IV On December 31, 2020, the Statement of Financial Position of ABC Partnership with profit or loss ratio of 6:1:3 of partners A, B and C respectively, revealed the following data: Cash 1,000,000 Other Liabilities 2,000,000 Receivable from A 500,000 Payable to B 1,000,000 Other non cash assets 2,000,000 Payable to C 100,000 A, Capital 700,000 B. Capital (650.000)

IV On December 31, 2020, the Statement of Financial Position of ABC Partnership with profit or loss ratio of 6:1:3 of partners A, B and C respectively, revealed the following data: Cash 1,000,000 Other Liabilities 2,000,000 Receivable from A 500,000 Payable to B 1,000,000 Other non cash assets 2,000,000 Payable to C 100,000 A, Capital 700,000 B. Capital (650.000)

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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