. Partners Lanvega, Tauroneo, and Bryce share profits and losses in the ratio of 4:5:1. The statement of financial position for the partnership is as follows: P50,000 | Accounts Payable 360,000 Lanvega, Capital Tauroneo, Capital Bryce, Capital P410,000 Total Liabilities and Capital Cash P150,000 Inventory 160,000 45,000 55,000 Total Assets P410,000 If the inventory is sold for P300,000, how much should Lanvega receive upon liquidation of the partnership?
. Partners Lanvega, Tauroneo, and Bryce share profits and losses in the ratio of 4:5:1. The statement of financial position for the partnership is as follows: P50,000 | Accounts Payable 360,000 Lanvega, Capital Tauroneo, Capital Bryce, Capital P410,000 Total Liabilities and Capital Cash P150,000 Inventory 160,000 45,000 55,000 Total Assets P410,000 If the inventory is sold for P300,000, how much should Lanvega receive upon liquidation of the partnership?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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a. ₱48,000
b. ₱100,000
c. ₱136,000
d. ₱160,000
![19. Partners Lanvega, Tauroneo, and Bryce share profits and losses in the
ratio of 4:5:1. The statement of financial position for the partnership is
as follows:
P50,000 Accounts Payable
360,000 Lanvega, Capital
Tauroneo, Capital
Bryce, Capital
P410,000 Total Liabilities
and Capital
Cash
P150,000
Inventory
160,000
45,000
55,000
Total Assets
P410,000
If the inventory is sold for P300,000, how much should Lanvega receive
upon liquidation of the partnership?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Facefeaac-1764-4690-9394-a6dae531e1ec%2Fef293800-a2dc-4f7a-a9bf-e2019029113f%2Fz9s4jwf_processed.png&w=3840&q=75)
Transcribed Image Text:19. Partners Lanvega, Tauroneo, and Bryce share profits and losses in the
ratio of 4:5:1. The statement of financial position for the partnership is
as follows:
P50,000 Accounts Payable
360,000 Lanvega, Capital
Tauroneo, Capital
Bryce, Capital
P410,000 Total Liabilities
and Capital
Cash
P150,000
Inventory
160,000
45,000
55,000
Total Assets
P410,000
If the inventory is sold for P300,000, how much should Lanvega receive
upon liquidation of the partnership?
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