The assets and equities of the Perdales, Ceballus and Bandonell partnership at the of its fiscal year ended Oct. 31, 2019 are as follows: Installment Liquidation: Cash Priority Program Equities Assets P 50,000 Liabilities Loan from Bandonell P 15,000 20,000 40,000 70,000 5,000 10,000 45,000 30,000 15,000 P150,000 Cash Perdales, Capital (30%) Ceballus, Capital (50%) Bandonell, Capital (20%) Receivable-net Inventory Property and Equipment Loan to Ceballus P150,000 The partners decided to liquidate the partnership. They estimated that the non-cas assets, other than the loan to Ceballus, can be converted into P100,000 cash over th two-month period ending Dec. 31, 2019. Cash is to be distributed to the appropriat parties as it becomes available during the liquidation process. Required: 1. The partner most vulnerable to partnership losses on liquidation is: a. Perdales b. Bandonell C. Ceballus d. Cebal
The assets and equities of the Perdales, Ceballus and Bandonell
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