Profit and loss ratio is 3:2:1 for Azure, Sapphire, and Lapiz, respectively. Cash is distributed as assets are realized. Other assets were realized as follows: Cash Received Book Value of Non-cash Assets P9,000 7,700 Date January 2022 February 2022 March 2022 P6,000 3,500 12,500 11,300 How much is the total cash received by Sapphire from January to March 2022?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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20. The balance sheet of ASL Partnership is as follows:
ASL Partnership
Balance Sheet
December 31, 2021
Assets
Cash
P2,000
28,000
Non-cash Assets
Total
P30,000
Liabilities and Capital
Liabilities
Azure, Loan
Azure, Capital
Sapphire, Capital
Lapiz, Capital
P5,000
2,500
12,500
7,000
3,000
Total
P30,000
Profit and loss ratio is 3:2:1 for Azure, Sapphire, and Lapiz,
respectively. Cash is distributed as assets are realized. Other assets were
realized as follows:
Date
Cash Received
Book Value of Non-cash Assets
January 2022
February 2022
March 2022
P6,000
P9,000
3,500
12,500
7,700
11,300
How much is the total cash received by Sapphire from January to
March 2022?
Transcribed Image Text:20. The balance sheet of ASL Partnership is as follows: ASL Partnership Balance Sheet December 31, 2021 Assets Cash P2,000 28,000 Non-cash Assets Total P30,000 Liabilities and Capital Liabilities Azure, Loan Azure, Capital Sapphire, Capital Lapiz, Capital P5,000 2,500 12,500 7,000 3,000 Total P30,000 Profit and loss ratio is 3:2:1 for Azure, Sapphire, and Lapiz, respectively. Cash is distributed as assets are realized. Other assets were realized as follows: Date Cash Received Book Value of Non-cash Assets January 2022 February 2022 March 2022 P6,000 P9,000 3,500 12,500 7,700 11,300 How much is the total cash received by Sapphire from January to March 2022?
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