Question: . A, B, and C are new Lawyers and are decided to form a partnership. A is to contribute cash of P50,000 and his

. A, B, and C are new Lawyers and are decided to

. A, B, and C are new Lawyers and are decided to form a partnership. A is to contribute cash of P50,000 and his computer originally cost P60,000 but has a fair value of P45,000. . B is to contribute cash of P70,000. C, whose family is selling computers, is to contribute cash of P75,000 and a computer with a fair market value of P85,000 but which cost P88,000. Compute C's capital account to be credited upon formation.

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