Prior to liquidation, the partners capital balances are reported as follows: ARIANA - Capital, 210,000, P&L Ratio,
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Prior to liquidation, the partners’ capital balances are reported as follows: ARIANA - Capital, ₱210,000, P&L Ratio, 1/4; GRANDE - Capital, ₱240,000, P&L Ratio, 3/4. The total liabilities of the partnership amount to ₱200,000, and all assets available are non-cash assets which were realized at ₱500,000. The cash distribution to partners would be:
a. Ariana –₱125,000; Grande –₱375,000
b. Ariana –₱135,000; Grande –₱165,000
c. Ariana –₱172,500; Grande –₱127,500
d. Ariana –₱140,000; Grande –₱160,000
Related Book For
Accounting
ISBN: 978-0132569309
9th Edition
Authors: Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliv
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