respectively and a profit sharing ratio of 4:2:1, respectively. If Rueda received3. Rueda, Castro and Pural have capital balances of P40,000, P50,000 and P18,000,3. Rueda, Castro and Pural have capital balances of P40,000, P50,000 and P18,000.respectively and a profit sharing ratio of 4:2:1, respectively. If Rueda receivedP8,000 upon liquidation, the total amount received by all the partners was:a. P108,000b. P56,000P24,000d. P52,000с.4. Assume the same facts in No. 3 above except that Rueda received P26,000 as aresult of the liquidation, Pural received as part of the liquidation:a. P26,000b. P18,000С.P14,500d. P14,000

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Answered: 3. Rueda, Castro and Pural have capital…

3. Rueda, Castro and Pural have capital balan respectively and a profit sharing ratio of - P8,000 upon liquidation, the total amount re a. P108,000 b. P56,000

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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Question

respectively and a profit sharing ratio of 4:2:1, respectively. If Rueda received
3. Rueda, Castro and Pural have capital balances of P40,000, P50,000 and P18,000,
3. Rueda, Castro and Pural have capital balances of P40,000, P50,000 and P18,000.
respectively and a profit sharing ratio of 4:2:1, respectively. If Rueda received
P8,000 upon liquidation, the total amount received by all the partners was:
a. P108,000
b. P56,000
P24,000
d. P52,000
с.
4. Assume the same facts in No. 3 above except that Rueda received P26,000 as a
result of the liquidation, Pural received as part of the liquidation:
a. P26,000
b. P18,000
С.
P14,500
d. P14,000

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