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14:45 1.40 45% KBla As of December 31, 2022, ToMoNo Partnership showed capital balances of: To P40,000; Mo P25,000; No P5,000. The partner's profit and loss ratio was 3:2:1 respectively. The partners decided to liquidate the partnership and sold all non cash asset for 37,000. After settlement of all the liabilities amounting to 12,000, they still have cash of P28,000 left for distribution. How much was the book value of Noncash asset? 37,000 * 82,000 80,000 79,000 As of December 31, 2022, ToMoNo Partnership showed capital balances of: To P40,000; Mo P25,000; No P5,000. The partner's profit and loss ratio was 3:2:1 respectively. The III C) * כ

14:45 1.40 45% KBla As of December 31, 2022, ToMoNo Partnership showed capital balances of: To P40,000; Mo P25,000; No P5,000. The partner's profit and loss ratio was 3:2:1 respectively. The partners decided to liquidate the partnership and sold all non cash asset for 37,000. After settlement of all the liabilities amounting to 12,000, they still have cash of P28,000 left for distribution. How much was the book value of Noncash asset? 37,000 * 82,000 80,000 79,000 As of December 31, 2022, ToMoNo Partnership showed capital balances of: To P40,000; Mo P25,000; No P5,000. The partner's profit and loss ratio was 3:2:1 respectively. The III C) * כ

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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14:45 1.40 45% KBla As of December 31, 2022, ToMoNo Partnership showed capital balances of: To P40,000; Mo P25,000; No P5,000. The partner's profit and loss ratio was 3:2:1 respectively. The partners decided to liquidate the partnership and sold all non cash asset for 37,000. After settlement of all the liabilities amounting to 12,000, they still have cash of P28,000 left for distribution. How much was the book value of Noncash asset? 37,000 * 82,000 80,000 79,000 As of December 31, 2022, ToMoNo Partnership showed capital balances of: To P40,000; Mo P25,000; No P5,000. The partner's profit and loss ratio was 3:2:1 respectively. The III C) * כ
Transcribed Image Text:14:45 1.40 45% KBla As of December 31, 2022, ToMoNo Partnership showed capital balances of: To P40,000; Mo P25,000; No P5,000. The partner's profit and loss ratio was 3:2:1 respectively. The partners decided to liquidate the partnership and sold all non cash asset for 37,000. After settlement of all the liabilities amounting to 12,000, they still have cash of P28,000 left for distribution. How much was the book value of Noncash asset? 37,000 * 82,000 80,000 79,000 As of December 31, 2022, ToMoNo Partnership showed capital balances of: To P40,000; Mo P25,000; No P5,000. The partner's profit and loss ratio was 3:2:1 respectively. The III C) * כ
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