ABC Co. is undergoing liquidation. Information before the start of the liquidation process is as follows: 10,000 Accounts payable 80,000 Payable to B 10,000 A, Capital (50%) 180,000 B, Capital (30%) 320,000 C, Capital (20%) 600,000 Total Liab. & Equity Cash 80,000 Accounts receivable 20,000 Receivable from A 250,000 Inventory 150,000 Equipment, net 100,000 Total 600,000
ABC Co. is undergoing liquidation. Information before the start of the liquidation process is as follows: 10,000 Accounts payable 80,000 Payable to B 10,000 A, Capital (50%) 180,000 B, Capital (30%) 320,000 C, Capital (20%) 600,000 Total Liab. & Equity Cash 80,000 Accounts receivable 20,000 Receivable from A 250,000 Inventory 150,000 Equipment, net 100,000 Total 600,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
A. 2,400
B. 3,600
C. 0
D. 6,000

Transcribed Image Text:ABC Co. is undergoing liquidation. Information before the start of the liquidation process is as
follows:
Cash
10,000 Accounts payable
80,000 Payable to B
80,000
Accounts receivable
20,000
Receivable from A
10,000 A, Capital (50%)
180,000 B, Capital (30%)
320,000 C, Capital (20%)
600,000 Total Liah. & Equity
250,000
Inventory
Equipment, net
Total
150,000
100,000
600,000
The total cash distributed to the partners after the first and second sales of noncashassets were P12,000
and P30,000, respectively. How much cash did A receive in the second cash distribution?
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