1. Peter invests cash of ₱260,000 and inventory with a cost of ₱258,000 and a current value of ₱436,000 in the Apostles Partnership. In addition, Peter invests land with a cost of ₱6,500,000 and an appraised value of ₱8,200,000. The partnership agrees NOT to assume the ₱4,000,000 mortgage on the property. Peter is confident in paying the mortgage on his own. He did not want the partnership to be burdened with this mortgage at the start of the partnership business. Andrew invests equipment with a cost of ₱2,000,000 and accumulated depreciation of ₱640,000. Andrew’s equipment has a fair market value of ₱645,000. 
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3. How much cash must be invested by Andrew so that the two have equal balances in their capital accounts?

Answer rating: 100% (QA)

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