Cash P 28,000 265,000 P 48,000 95,000 80,000 70,000 P 293.000 Other assets Liabilities Alex, capital Jay, capital John, capital Total Total P293.000 The income and loss ratio is 50:25:25, respectively. The partners voted to dissolve dien partnership and liquidate by selling other assets in installments. P70,000 was realized on the mst cash sale of other assets with a book value of P150.000. After settlement with creditors, all cash available was distributed to the partners. How much cash was received by John? P10,500 20,000 21,250 32,500 C d

Cash P 28,000 265,000 P 48,000 95,000 80,000 70,000 P 293.000 Other assets Liabilities Alex, capital Jay, capital John, capital Total Total P293.000 The income and loss ratio is 50:25:25, respectively. The partners voted to dissolve dien partnership and liquidate by selling other assets in installments. P70,000 was realized on the mst cash sale of other assets with a book value of P150.000. After settlement with creditors, all cash available was distributed to the partners. How much cash was received by John? P10,500 20,000 21,250 32,500 C d

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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