6. DUA and LIPA share earnings in a 60:40 ratio. They have decided to liquidate their partnership. A portion of the assets has been sold but other assets with a carrying amount of P62,000 still must be realized. All liabilities have been paid, and cash of P28,000 is available for distribution to partners. The capital accounts show balances of P90,000 for Aguilar and P55,000 for Bernardo. How much of the available cash for distribution should be given to DUA? *

6. DUA and LIPA share earnings in a 60:40 ratio. They have decided to liquidate their partnership. A portion of the assets has been sold but other assets with a carrying amount of P62,000 still must be realized. All liabilities have been paid, and cash of P28,000 is available for distribution to partners. The capital accounts show balances of P90,000 for Aguilar and P55,000 for Bernardo. How much of the available cash for distribution should be given to DUA? *

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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