A cash distribution plan/payment priority program for MM, NN, and OO partnership appears below: Priority Creditors 100% MM NN First P150,000 Next P40,000 Next P35,000 Remainder 70% 30% 3/7 22% 4/7 44% 34% 42. If P275,000 is to be distributed, how much will be received by MM? * Your answer 43. If P275,000 is to be distributed, how much will be received by NN? * Your answer 44. If P275,000 is to be distributed, how much will be received by 0O? * Your answer

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A cash distribution plan/payment
priority program for MM, NN, and OO
partnership appears below:
Priority Creditors
100%
MM
NN
First P150,000
Next P40,00O
70%
30%
Next P35,000
Remainder
3/7
22%
4/7
44%
34%
42. If P275,000 is to be
distributed, how much willI be
received by MM? *
Your answer
43. If P275,000 is to be
distributed, how much will be
received by NN? *
Your answer
44. If P275,000 is to be
distributed, how much will be
received by OO? *
Your answer
Transcribed Image Text:A cash distribution plan/payment priority program for MM, NN, and OO partnership appears below: Priority Creditors 100% MM NN First P150,000 Next P40,00O 70% 30% Next P35,000 Remainder 3/7 22% 4/7 44% 34% 42. If P275,000 is to be distributed, how much willI be received by MM? * Your answer 43. If P275,000 is to be distributed, how much will be received by NN? * Your answer 44. If P275,000 is to be distributed, how much will be received by OO? * Your answer
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