2. The statement of financial position of the partnership of A, B and C shows the following information: 22,400 Liabilities Cash 38,400 212,000 A, capital (50%) B, capital (25%) C, capital (25%) 234,400 Total liabilities & equity Other assets 76,000 64,000 56,000 234,400 Total assets The partners realized P56,000 from the first installment sale of non-cash assets with total carrying amount of P120,000. How much did B receive from the partial liquidation?
2. The statement of financial position of the partnership of A, B and C shows the following information: 22,400 Liabilities Cash 38,400 212,000 A, capital (50%) B, capital (25%) C, capital (25%) 234,400 Total liabilities & equity Other assets 76,000 64,000 56,000 234,400 Total assets The partners realized P56,000 from the first installment sale of non-cash assets with total carrying amount of P120,000. How much did B receive from the partial liquidation?
2. The statement of financial position of the partnership of A, B and C shows the following information: 22,400 Liabilities Cash 38,400 212,000 A, capital (50%) B, capital (25%) C, capital (25%) 234,400 Total liabilities & equity Other assets 76,000 64,000 56,000 234,400 Total assets The partners realized P56,000 from the first installment sale of non-cash assets with total carrying amount of P120,000. How much did B receive from the partial liquidation?
Transcribed Image Text:2. The statement of financial position of the partnership of A, B
and C shows the following information:
22,400 Liabilities
Cash
38,400
212,000 A, capital (50%)
B, capital (25%)
C, capital (25%)
234,400 Total liabilities & equity
Other assets
76,000
64,000
56,000
Total assets
234,400
The partners realized P56,000 from the first installment sale of
non-cash assets with total carrying amount of P120,000. How
much did B receive from the partial liquidation?
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.
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