6. Orcajada invested in a partnership a parcel of land which cost his father P200,000...
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6. Orcajada invested in a partnership a parcel of land which cost his father P200,000 The land had a market value of P300,000 when Orcajada inherited it three years ago. Currently, the land is independently appraised at P500,000 even though Orcajada insisted that he wouldn't take P900,000 for it." The land should be recorded in the accounts of the partnership at a. P300,000 b. P500,000 Chapter 1: Basic Considerations and Formation | 1-45 c. P900,000. d. P200,000
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