Show the solution in good accounting form Problem 6Mah, Dah and Lih have capital balances of P600,000, P1,000,000 and P360,000each respectively and they share profits in the respective ratio of 4:2:1.DahreceivedP520,000resultof liquidating the partnership.as aThepartnership also incurred P10,000 liquidation expenses and withheld P2,000for the unpaid liabilities of the partnership.How much will Lih receive?240,000150,000А.C.120,000в.D.What is the loss on realization?C.1,320,0001,310,000A.1,680,000В.1,670,000D.RSITY

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Description: Show the solution in good accounting form Problem 6Mah, Dah and Lih have capital balances of P600,000, P1,000,000 and P360,000each respectively and they share profits in the respective ratio of 4:2:1.DahreceivedP520,000resultof liquidating the partne

Partnership business means where two or more person comes together to do the business and share the…

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Problem 6 Mah, Dah and Lih have capital balances of P600,000, P1,000,000 and P360,000 each respectively and they share profits in the respective ratio of 4:2:1. Dah received P520,000 as a result of liquidating the partnership. partnership also incurred P10,000 liquidation expenses and withheld P2,000 for the unpaid liabilities of the partnership. The How much wil1 Lih receive? A. 240,000 в. 150,000 C. 120,000 D. What is the loss on realization? А. 1,680,000 c. 1,320,000 B. 1,670,000 D. 1,310,000 RSITY

Problem 6 Mah, Dah and Lih have capital balances of P600,000, P1,000,000 and P360,000 each respectively and they share profits in the respective ratio of 4:2:1. Dah received P520,000 as a result of liquidating the partnership. partnership also incurred P10,000 liquidation expenses and withheld P2,000 for the unpaid liabilities of the partnership. The How much wil1 Lih receive? A. 240,000 в. 150,000 C. 120,000 D. What is the loss on realization? А. 1,680,000 c. 1,320,000 B. 1,670,000 D. 1,310,000 RSITY

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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