The liquidation of the partnership of Cheska, Darryl and Eunice resulted in a deficiency in Cheska’s capital account of P100,000. Cheska can contribute only P25,000 to offset her deficiency. Darryl and Eunice, who have capital balances of P250,000 and P50,000 and share profits and losses in the ratio of 2:3 will absorb the deficiency as follows: A. Darryl – P30,000; Eunice – P45,000 B. Darryl – P37,500; Eunice – P37,500 C. Darryl – P45,000; Eunice – P30,000 D. Darryl – P0; Eunice – P0 WHAT IS THE CORRECT LETTER OF THE ANSWER
The liquidation of the partnership of Cheska, Darryl and Eunice resulted in a deficiency in Cheska’s capital account of P100,000. Cheska can contribute only P25,000 to offset her deficiency. Darryl and Eunice, who have capital balances of P250,000 and P50,000 and share profits and losses in the ratio of 2:3 will absorb the deficiency as follows: A. Darryl – P30,000; Eunice – P45,000 B. Darryl – P37,500; Eunice – P37,500 C. Darryl – P45,000; Eunice – P30,000 D. Darryl – P0; Eunice – P0 WHAT IS THE CORRECT LETTER OF THE ANSWER
Chapter11: Invest Or Losses
Section: Chapter Questions
Problem 28CE
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- The liquidation of the partnership of Cheska, Darryl and Eunice resulted in a deficiency in Cheska’s capital account of P100,000. Cheska can contribute only P25,000 to offset her deficiency. Darryl and Eunice, who have capital balances of P250,000 and P50,000 and share
profits and losses in the ratio of 2:3 will absorb the deficiency as follows:
A. Darryl – P30,000; Eunice – P45,000
B. Darryl – P37,500; Eunice – P37,500
C. Darryl – P45,000; Eunice – P30,000
D. Darryl – P0; Eunice – P0
WHAT IS THE CORRECT LETTER OF THE ANSWER?
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