Name the partner and give the corresponding additional cash he had to invest due to his net capital deficiency to finally settle to the liquidation of the partnership.
Name the partner and give the corresponding additional cash he had to invest due to his net capital deficiency to finally settle to the liquidation of the partnership.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Ideu, the
d. P3,200
b. Р3,920
C.
P4,500
d. P17,800
42.
liquidate. All assets of the partnership
just prior to liquidation follows:
were liquidated. The condemsed statement of financial position
Assets
Cash
Other assets
liabilities and capital
P140, 000
10, 000
45, 000
105, 000
200, 000
P500,000
P100, 000
liabilities
Matias, loan
Matias, capital
Pagayanon, capital
Pescasiosa, capital
Total
400, 000
Total
P500, 000
Other assets were sold for P247, 500 realizing a loss of P152, 500. Parties agreed to fully terminate
the partnership's business thus, necessitating distribution of cash to partners and in case of capital
deficiency, contribution of additional cash. The three partners were all solvent and could answer any
capital deficiency.
Name the partner and give the corresponding additional cash he had to invest due to his net capital
deficiency to finally settle to the liquidation of the partnership.
Pagayanon, P44,000
b Pescasiosa, P30, 500
Matias, P16,000
Matias, P6,000
a
C](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0b908d0d-5e30-4b36-9bb3-36ea9b979fa5%2Fe3575727-66d0-4983-a00f-dedcd58c276c%2Fq5xs9dc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Ideu, the
d. P3,200
b. Р3,920
C.
P4,500
d. P17,800
42.
liquidate. All assets of the partnership
just prior to liquidation follows:
were liquidated. The condemsed statement of financial position
Assets
Cash
Other assets
liabilities and capital
P140, 000
10, 000
45, 000
105, 000
200, 000
P500,000
P100, 000
liabilities
Matias, loan
Matias, capital
Pagayanon, capital
Pescasiosa, capital
Total
400, 000
Total
P500, 000
Other assets were sold for P247, 500 realizing a loss of P152, 500. Parties agreed to fully terminate
the partnership's business thus, necessitating distribution of cash to partners and in case of capital
deficiency, contribution of additional cash. The three partners were all solvent and could answer any
capital deficiency.
Name the partner and give the corresponding additional cash he had to invest due to his net capital
deficiency to finally settle to the liquidation of the partnership.
Pagayanon, P44,000
b Pescasiosa, P30, 500
Matias, P16,000
Matias, P6,000
a
C
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