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The financial position of the partnership Marie, Shey, Allan and Roi, just prior to liquidation shows: Marie, Loan                        25,000 Marie, Capital                    137,500 Shey, capital                       128,750 Allan, capital                      171,250 Roi, Capital                          112,500 The partners share profits and losses on a 4:3:2:1 ratio, respectively. Certain assets are sold for P150,000 and is distributed to partners. How much cash should Allan receive? a. 0 b. 50,000 c. 67,917 d. 82,083

The financial position of the partnership Marie, Shey, Allan and Roi, just prior to liquidation shows: Marie, Loan                        25,000 Marie, Capital                    137,500 Shey, capital                       128,750 Allan, capital                      171,250 Roi, Capital                          112,500 The partners share profits and losses on a 4:3:2:1 ratio, respectively. Certain assets are sold for P150,000 and is distributed to partners. How much cash should Allan receive? a. 0 b. 50,000 c. 67,917 d. 82,083

FINANCIAL ACCOUNTING
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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The financial position of the partnership Marie, Shey, Allan and Roi, just prior to liquidation shows:

Marie, Loan                        25,000

Marie, Capital                    137,500

Shey, capital                       128,750

Allan, capital                      171,250

Roi, Capital                          112,500

The partners share profits and losses on a 4:3:2:1 ratio, respectively. Certain assets are sold for P150,000 and is distributed to partners. How much cash should Allan receive?

a. 0

b. 50,000

c. 67,917

d. 82,083

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