Question: I hope you can help me with my assignment. Problem 15 At the end of its fiscal year on June 30, 2005, the Beauty. Baeuty,

I hope you can help me with my assignment.

I hope you can help me with my assignment. Problem 15 At

Problem 15 At the end of its fiscal year on June 30, 2005, the Beauty. Baeuty, and Buaety partnership had account balances as follows: Cash 20,000 Accounts payable 35,000 Accounts receivable 30,000 Loan from Baeuty 25,000 Inventories 70,000 Beauty, capital - 20% 70,000 Plant assets-net 60,000 Baeuty, capital - 30% 50,000 Loan to Beauty 30,000 Buaety, capital - 50% 30,000 The percentages shown are the residual profit sharing ratios. Buaety also gets a P12,000 annual salary allowance. The partners dissolved the partnership on July 1,2018 and began the liquidation process. During, July, the following events occurred: - Receivables of P 15,000 were collected, - The inventory was sold for P20,00, and - All available cash was distributed on July 31, except for P10,000 of expected expenses. 1. The (1) book value of the partnership equity on June 30,2005 and (2) the amount of cash Baeuty should receive on July 31,2018 are: a. 145,000 and 10,000 c. 145,000 and 3,000 b. 210,000 and 6.000 d. 120,000 and 9,000

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