Cash Oher Assets P 40,000 s60,000 Liabilities Coney, loan Coney, Capital Hoery, Capital Money, Capital PI00, 000 50,000 250,000 140,000 60.000 P 600,000 P 600,000 Profit and loss ratio is 3:2:1 for Coney, Honey and Money, respectively. Other assets were realized as follows: Book Value Cash Received PI20,000 70,000 250,000 Date January February March PIS0,000 154,000 226,000
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#511
The balance sheet for Coney, Honey and Money
- The total cash received by Honey is
- P100,000
- P30,000
- P0
- P40,000
- The total loss to Coney is
- P60,000 P0
- P40,000 P20,000
- Cash received by Money in January 2022 is
- P10,000 P0
- P4,000 P20,00
Step by step
Solved in 3 steps
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