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The balance of the DDD partnership, just before liquidation, is as follows: Assets Liabilities & Capital P 30,000 P 36,000 30,000 24,000 15,000 P 105,000 Cash Liabilities Non-cash Assets Dangayo, capital (50%) Dangpa, capital (30%) Dapyaw, capital (20%) 75,000 Total P 105,000 Total The non-cash assets are sold for P 15,000 net of liquidation expenses and the liabilities are paid. How the remaining cash should be distributed to Dangayo, Dangpa and Dapyaw:

The balance of the DDD partnership, just before liquidation, is as follows: Assets Liabilities & Capital P 30,000 P 36,000 30,000 24,000 15,000 P 105,000 Cash Liabilities Non-cash Assets Dangayo, capital (50%) Dangpa, capital (30%) Dapyaw, capital (20%) 75,000 Total P 105,000 Total The non-cash assets are sold for P 15,000 net of liquidation expenses and the liabilities are paid. How the remaining cash should be distributed to Dangayo, Dangpa and Dapyaw:

FINANCIAL ACCOUNTING
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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a. P4,500; P2,700; P1,800
 
b. P0; P6,000; P3,000
 
c. P3,000; P3,000; P3,000
 
d. P22,500; P13,500; P9,000
The balance of the DDD partnership, just before liquidation, is as follows: Liabilities & Capital Assets P 30,000 75,000 Cash Liabilities P 36,000 Non-cash Assets Dangayo, capital (50%) Dangpa, capital (30%) Dapyaw, capital (20%) 30,000 24,000 15,000 P 105,000 Total P 105,000 Total The non-cash assets are sold for P 15,000 net of liquidation expenses and the liabilities are paid. How the remaining cash should be distributed to Dangayo, Dangpa and Dapyaw:
Transcribed Image Text:The balance of the DDD partnership, just before liquidation, is as follows: Liabilities & Capital Assets P 30,000 75,000 Cash Liabilities P 36,000 Non-cash Assets Dangayo, capital (50%) Dangpa, capital (30%) Dapyaw, capital (20%) 30,000 24,000 15,000 P 105,000 Total P 105,000 Total The non-cash assets are sold for P 15,000 net of liquidation expenses and the liabilities are paid. How the remaining cash should be distributed to Dangayo, Dangpa and Dapyaw:
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