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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 berealized piecemeal in the next month. How much of the P37,800 cash should Parkreceive?

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 berealized piecemeal in the next month. How much of the P37,800 cash should Parkreceive?

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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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 berealized piecemeal in the next month. How much of the P37,800 cash should Parkreceive?

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