Partner T is personally insolvent , owing P400,000 . Personal assets will only bring P150,000 when liquidated . At the same time , T has a credit capital balance in the partnership of P85,000 . The capital amounts of the other partners total a ( credit ) balance of . Under the doctrine of marshaling of assets , the personal creditors of T can collect up to a . P150,000 b . P235,000P400,000 d . P435,000
Partner T is personally insolvent , owing P400,000 . Personal assets will only bring P150,000 when liquidated . At the same time , T has a credit capital balance in the partnership of P85,000 . The capital amounts of the other partners total a ( credit ) balance of . Under the doctrine of marshaling of assets , the personal creditors of T can collect up to a . P150,000 b . P235,000P400,000 d . P435,000
Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations
Section: Chapter Questions
Problem 47P
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Partner T is personally insolvent , owing P400,000 . Personal assets will only bring P150,000 when liquidated . At the same time , T has a credit capital balance in the
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