Jungkook and Jimin with capital balances of P98,000 and P62,000,respectively. They share profits and losses in the ratio of 3:2, respectively. The partners decided to liquidate the partnership. The firm's liabilities amount to P144,000, including P16,000 owing to J-Hope and P14,000 to RM. After realization of assets, the cash on hand amounted to P150,000. How much should Jungkook receive in final settlement of his interest? * O 14,400 O 21,600 O 32,000 O 20,000

Jungkook and Jimin with capital balances of P98,000 and P62,000,respectively. They share profits and losses in the ratio of 3:2, respectively. The partners decided to liquidate the partnership. The firm's liabilities amount to P144,000, including P16,000 owing to J-Hope and P14,000 to RM. After realization of assets, the cash on hand amounted to P150,000. How much should Jungkook receive in final settlement of his interest? * O 14,400 O 21,600 O 32,000 O 20,000

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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