respectívely. The balances of their capital accounts on December 31, 2011 are as follows: Silverio P Silverio, Domingo, Reyes, and Pastor are partners sharing earnings in the ratio of 3:4:6:8 1. 1,000; Domingo P25,000; Reyes P 25,000; and Pastor P9,000. he parthers decided to liquidate, and they accordingly convert the non-cash assets into P23,200 of casn. After paying the liabilities amounting to P3.000, they have P22,200 to divide. Assume that a debit balance in any partner's capital accounts is uncollectible. After the P22,200 was divided, the capital balance of Domingo was: a. Р3,200 b. Р3,920 C. P4,500 d. P17,800

respectívely. The balances of their capital accounts on December 31, 2011 are as follows: Silverio P Silverio, Domingo, Reyes, and Pastor are partners sharing earnings in the ratio of 3:4:6:8 1. 1,000; Domingo P25,000; Reyes P 25,000; and Pastor P9,000. he parthers decided to liquidate, and they accordingly convert the non-cash assets into P23,200 of casn. After paying the liabilities amounting to P3.000, they have P22,200 to divide. Assume that a debit balance in any partner's capital accounts is uncollectible. After the P22,200 was divided, the capital balance of Domingo was: a. Р3,200 b. Р3,920 C. P4,500 d. P17,800

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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