1. The following statement of financial position is presented for the partnership of A, B, and...

 

Transcribed Image Text:

1. The following statement of financial position is presented for the partnership of A, B, and C, who share profits and losses in the ratio of 4:3:3 Assets Cash Other assets A, loan Total Assets Liabilities and Capital Accounts payable C, Loan A, Capital B, Capital C, Capital Total liabilities and capital P90,000 830,000 20,000 P940,000 P210,000 30,000 310,000 200,000 190,000 P940,000 I Assume the partners decide to liquidate the partnership. If the other assets are sold for P700,000, how much of the available cash should be distributed to A? 1. The following statement of financial position is presented for the partnership of A, B, and C, who share profits and losses in the ratio of 4:3:3 Assets Cash Other assets A, loan Total Assets Liabilities and Capital Accounts payable C, Loan A, Capital B, Capital C, Capital Total liabilities and capital P90,000 830,000 20,000 P940,000 P210,000 30,000 310,000 200,000 190,000 P940,000 I Assume the partners decide to liquidate the partnership. If the other assets are sold for P700,000, how much of the available cash should be distributed to A?

Answer rating: 100% (QA)

Cash other Asseks Alloan Paoooo P700000 260... View the full answer