Capital balances of partners Q,R, S are the following before liquidation: P87,000, P95,500, P106,250 respectively. The partnership has a loan from partner Q in the amount of P8,000; loan to partner R in the amount of P4,500; advances to partner S in the amount of P6,500. The partners’ profit and loss ratio is 25:40:35 respectively. If in the first installment the total cash paid to partners is P57,000, how much did partner S receive?
Capital balances of partners Q,R, S are the following before liquidation: P87,000, P95,500, P106,250 respectively. The partnership has a loan from partner Q in the amount of P8,000; loan to partner R in the amount of P4,500; advances to partner S in the amount of P6,500. The partners’ profit and loss ratio is 25:40:35 respectively. If in the first installment the total cash paid to partners is P57,000, how much did partner S receive?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Capital balances of partners Q,R, S are the following before liquidation: P87,000, P95,500, P106,250 respectively. The partnership has a loan from partner Q in the amount of P8,000; loan to partner R in the amount of P4,500; advances to partner S in the amount of P6,500. The partners’ profit and loss ratio is 25:40:35 respectively. If in the first installment the total cash paid to partners is P57,000, how much did partner S receive?
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