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After paying all their liabilities, Mark, Lark, and Park had the following balances: Partner                 Capital                  Loans                    P&L ratio Mark                     P102,960             P90,000                12/25 Lark                        89,040                  30,000                  8/25 Park                       68,100                  39,900                  5/25 Cash available for distribution amounts to P37,800, remaining assets of P382,200 will be realized piecemeal in the next month. How much of the P37,800 cash should Park receive? P30,600 b. P7,200 c. P7,560 d. Zero

After paying all their liabilities, Mark, Lark, and Park had the following balances: Partner                 Capital                  Loans                    P&L ratio Mark                     P102,960             P90,000                12/25 Lark                        89,040                  30,000                  8/25 Park                       68,100                  39,900                  5/25 Cash available for distribution amounts to P37,800, remaining assets of P382,200 will be realized piecemeal in the next month. How much of the P37,800 cash should Park receive? P30,600 b. P7,200 c. P7,560 d. Zero

FINANCIAL ACCOUNTING
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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  1. After paying all their liabilities, Mark, Lark, and Park had the following balances:

Partner                 Capital                  Loans                    P&L ratio

Mark                     P102,960             P90,000                12/25

Lark                        89,040                  30,000                  8/25

Park                       68,100                  39,900                  5/25

Cash available for distribution amounts to P37,800, remaining assets of P382,200 will be realized piecemeal in the next month. How much of the P37,800 cash should Park receive?

  1. P30,600 b. P7,200 c. P7,560 d. Zero
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