Question: CHOOSE THE CORRECT ANSWER Partners A. B and C have capital balances of P SHELDDD. P 4. and P SUD , respectivelyr before liquidation and

CHOOSE THE CORRECT ANSWER

Partners A. B and C have capital balances of P SHELDDD. P 4. and P SUD , respectivelyr before liquidation and they share in the profits! losses equally. The partnership has a loan payable to A of P 15.D. The noncash assets has a book value of P 1,1,. Assuming the proceeds received from the realization is P 5, and all the partners not solvent, how much will E receive in final distribution of remaining cash? ['4]. [1 Point} 0 32,500 0 132.5012: 0 a 0 some

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

34.What is the CORRECT answer? Partners A. B and C have capital balances of P 3D.. P 4. and P So , respectively before liquidation and they share in the profitslfr losses equally. The partnership has...

Andres, Tomas and Moises are partners of ATM partnership. They decided to liquidate on March 31 of the current year. On this date, they have non- cash assets of P530,000 and liabilities of P250, 000,...

please answer all the questions immediately thankyou 4 How much is the total additional paid in capital presented in the shareholder's equity section as of December 31,2021? To input answers, kindly...

Choose A if the first statement is the only correct answer, B if the second statement is the only correct answer, C if both statements are correct and D if both statements are incorrect. 9.1st -...

Select the best answer. Choose A if the first statement is the only correct answer. B if the second statement is the only correct answer. C if both statements are correct and D if both statements are...

ASSESSMENT TOOL EXERCISES A. On July 1, 2019, Jun, Mar and Roy decided to liquidate their partnership. Prior to liquidation, the partnership had Cash of P 12,000, Other assets amounting to P 146,000,...

On December 31, 2017, partners J, A and C have capital balances of 252,000, 368,000 and 305,000 respectively. The partnership has 275,000 liabilities, including a loan from A amounting to 20,000 and...

Bracken, Louden, and Menser, who share profits and losses in a ratio of 4:3:3, respectively, are partners in a home decorating business that has not been able to generate the income the partners had...

Refer to the facts in A9- 7. Required: For each of the above items, using ASPE, give the name of the account to which the expenditure should be charged; that is, what account should be debited? Be...

What are the basic ownership rights of common stockholders in the absence of restrictive provisions? Discuss.

Question 1 If you enable device controllability in Cisco DNA Center, describe what happens when a device is discovered, assigned to a site, and then deleted from Cisco DNA Center. Cisco DNA Center...

Match the forecasting method with the required amount of historical data of data pattem produced. Trend and seasonal models Weighted moving average e simple exponential smoothing tinear regression...

4. Give examples from your everyday life where the process affects the result, but where the result also affects the process.

6. Give examples of circular patterns in a communication situation that you have participated in, where element A affects B, and B affects A.

3. Find examples from your everyday life of people or situations that fit the Ithaca Syndrome.