The total loss on realization is ______The amount to be realized from the sale of non-cash assets is A, B and C decided to dissolve their partnership on November 30, 20x1. Their profit and loss ratio are asfollows:CapitalP&L ratioA400,00040%в480,00030%160,00030%The net income from January 1, 20x1 to November 30 is P352,000. On November 30, the cash balance isP320,000 and that of liabilities is P720,000. A is to receive P441,600 in the settlement of his interest.

The partnership comes into existence when two or more persons agree to do the business and further…

A, B and C decided to dissolve their partnership on November 30, 20x1. Their profit and loss ratio are as follows: Capital P&L ratio A 400,000 40% B 480,000 30% 160,000 30% The net income from January 1, 20x1 to November 30 is P352,000. On November 30, the cash balance is P320,000 and that of liabilities is P720,000. A is to receive P441,600 in the settlement of his interest.

A, B and C decided to dissolve their partnership on November 30, 20x1. Their profit and loss ratio are as follows: Capital P&L ratio A 400,000 40% B 480,000 30% 160,000 30% The net income from January 1, 20x1 to November 30 is P352,000. On November 30, the cash balance is P320,000 and that of liabilities is P720,000. A is to receive P441,600 in the settlement of his interest.

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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