Finale partnership has the following account balance before liquidation: P 70,000 1, 475,000 30,000 4,000 446,000...

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Finale partnership has the following account balance before liquidation: P 70,000 1, 475,000 30,000 4,000 446,000 Cash Liabilities Noncash assets Loan from Ang Loan to Co Dy, Capital (40%) Receivable from Dy Co, Capital (40%) Expenses Ang, Capital (20%) Revenues During July, some noncash assets were sold that resulted to a loss of P9,255. Liquidation expenses of P35,000 were paid and additional expenses amounting to P18,000 were expected to be incurred through the following months of liquidating the partnership. Liabilities to outsiders amounting to P175,000 were paid. 29. If Co received P111,110, compute the amount of cash paid to outsiders and other partners during the first month of liquidation 30. Compute the share of Dy in the maximum possible loss in the month of July Finale partnership has the following account balance before liquidation: P 70,000 1, 475,000 30,000 4,000 446,000 Cash Liabilities Noncash assets Loan from Ang Loan to Co Dy, Capital (40%) Receivable from Dy Co, Capital (40%) Expenses Ang, Capital (20%) Revenues During July, some noncash assets were sold that resulted to a loss of P9,255. Liquidation expenses of P35,000 were paid and additional expenses amounting to P18,000 were expected to be incurred through the following months of liquidating the partnership. Liabilities to outsiders amounting to P175,000 were paid. 29. If Co received P111,110, compute the amount of cash paid to outsiders and other partners during the first month of liquidation 30. Compute the share of Dy in the maximum possible loss in the month of July

Answer rating: 100% (QA)

To compute the amount of cash paid to outsiders and other partners during the first month of liquidation we need to calculate the total cash paid out ... View the full answer