Question: solve this problem and show solution PROBLEM 3. Fleming, Durano and Mart are partners in a wholesale business. On January 1, 2024 the total capital

solve this problem and show solution

PROBLEM 3. Fleming, Durano and Mart are partners in a wholesale business. On January 1, 2024 the total capital was P30,00 and drawings presented as follows: Capitals Drawings Fleming 6,250.00 3,750.00 Durano 5,000.00 2,500.00 Mart 18,750.00 1,250.00 Partners agree that profit and loss ratio are shared equally. Because of the failure of some debtors to pay their outstanding accounts, the partnership loses heavily and is compelled to liquidate, After exhausting the partnership assets, including those arising from an operating profit of P4,500 in 2024, they still owe P5,250 to creditors on December 31, 2024. Fleming has no personal but the others are well off. 1. The partnership liquidation loss: a. None c. 27,750 b. 10,000 d. 32,250 2. The amount to be received by Mart as a result of the liquidation: a. 818.75 c. 7,125 b. 4,875 d. 9,750

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