Lapiz, Capital 3,000 P30,000 Total Profit and loss ratio is 3:2:1 for Azure, Sapphire, and Lapiz- respectively. Cash is distributed as assets are realized. Other assets were realized as follows: Cash Received Book Value of Non-cash Assets P9,000 7,700 Date January 2022 February 2022 March 2022 P6,000 3,500 12,500 11,300
Lapiz, Capital 3,000 P30,000 Total Profit and loss ratio is 3:2:1 for Azure, Sapphire, and Lapiz- respectively. Cash is distributed as assets are realized. Other assets were realized as follows: Cash Received Book Value of Non-cash Assets P9,000 7,700 Date January 2022 February 2022 March 2022 P6,000 3,500 12,500 11,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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a. ₱0
b. ₱1,500
c. ₱2,000
d. ₱5,000
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