Prior to liquidation, the partners' capital balances are reported as follows: ARIANA - Capital,P210,000, P&L Ratio, 1/4; GRANDE - Capital, P240,000, P&L Ratio, 3/4. The total liabilities of thepartnership amount to P200,000, and all assets available are non-cash assets which wererealized at P500,000. The cash distribution to partners would be:

Ariana capital capital beg - 210,000 share in loss - (37,500) cash to be distributed - 172,500…

Prior to liquidation, the partners' capital balances are reported as follows: ARIANA - Capital, P210,000, P&L Ratio, 1/4; GRANDE - Capital, P240,000, P&L Ratio, 3/4. The total liabilities of th partnership amount to P200,000, and all assets available are non-cash assets which were realized at P500,000. The cash distribution to partners would be:

Prior to liquidation, the partners' capital balances are reported as follows: ARIANA - Capital, P210,000, P&L Ratio, 1/4; GRANDE - Capital, P240,000, P&L Ratio, 3/4. The total liabilities of th partnership amount to P200,000, and all assets available are non-cash assets which were realized at P500,000. The cash distribution to partners would be:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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