As of December 31. 2021, the books ot ALTHEA Partnership showed capital balances of: AL. P40.000; Te, P25.000. Hea, P5.000. Thepartners' proht and loss ratio was 3:2:1. respectively. The partners decided to liquidate and they sald all non-cash assets for P37,000.After settlement of all liabilities amounting P12.000, they still have cash of P28.000 left for distribution. Assuming that any capitaldebit balance is uncolectible, the share of Al in the distribution of the P28.000 cash would be:O 17.00018.000O 19.000O P17800

The partnership means the two or more person joining together for running the business and sharing…

As of December 31. 2021, the books ot ALTHEA Partnership showed capital balances of: AL. P40.000: Te. P25.000: Hea, PS.000. The partners' proht and loss ratio was 32:1. respectively. The partners decided to liquidate and they sold all non-cash assets for P37,00. After settlement of all labilities amounting P12.000, they still have cash of P28.000 left for distribution. Assuming that any capital debit balance is uncolectible, the share of Al in the distribution of the P28.000 cash would be: O 17.000 O 18.000 O 19.000 O P17800

As of December 31. 2021, the books ot ALTHEA Partnership showed capital balances of: AL. P40.000: Te. P25.000: Hea, PS.000. The partners' proht and loss ratio was 32:1. respectively. The partners decided to liquidate and they sold all non-cash assets for P37,00. After settlement of all labilities amounting P12.000, they still have cash of P28.000 left for distribution. Assuming that any capital debit balance is uncolectible, the share of Al in the distribution of the P28.000 cash would be: O 17.000 O 18.000 O 19.000 O P17800

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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