partner. In the settlement of the partners' claims, how much The non-cash assets are sold for P320,000. C is the only solvent 3. The statement of financial position of the partnership of A, and C shows the following information: Cash 300,000 64,000 40,000 Liabilities Noncash assets 720,000 B, Loan 20,000 C, Loan A, Capital (50%) B, Capital (30%) C, Capital (20%) 250,000 86,000 40,000 Total 760,000 760,000 Total Liab. & Equity dditional sontribution is required of C?
partner. In the settlement of the partners' claims, how much The non-cash assets are sold for P320,000. C is the only solvent 3. The statement of financial position of the partnership of A, and C shows the following information: Cash 300,000 64,000 40,000 Liabilities Noncash assets 720,000 B, Loan 20,000 C, Loan A, Capital (50%) B, Capital (30%) C, Capital (20%) 250,000 86,000 40,000 Total 760,000 760,000 Total Liab. & Equity dditional sontribution is required of C?
partner. In the settlement of the partners' claims, how much The non-cash assets are sold for P320,000. C is the only solvent 3. The statement of financial position of the partnership of A, and C shows the following information: Cash 300,000 64,000 40,000 Liabilities Noncash assets 720,000 B, Loan 20,000 C, Loan A, Capital (50%) B, Capital (30%) C, Capital (20%) 250,000 86,000 40,000 Total 760,000 760,000 Total Liab. & Equity dditional sontribution is required of C?
Transcribed Image Text:partner. In the settlement of the partners' claims, how much
The non-cash assets are sold for P320,000. C is the only solvent
3. The statement of financial position of the partnership of A, B
and C shows the following information:
Cash
40,000 Liabilities
720,000 B, Loan
300,000
64,000
Noncash assets
20,000
C, Loan
A, Capital (50%)
B, Capital (30%)
C, Capital (20%)
250,000
86,000
40,000
760,000
Total
760,000 Total Liab. & Equity
additional contribution is required of C?
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.
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