2. The statement of financial position of the partnership of A, B and C shows the following information: 22,400 Liabilities Cash 38,400 212,000 A, capital (50%) B, capital (25%) C, capital (25%) 234,400 Total liabilities & equity Other assets 76,000 64,000 56,000 234,400 Total assets The partners realized P56,000 from the first installment sale of non-cash assets with total carrying amount of P120,000. How much did B receive from the partial liquidation?

2. The statement of financial position of the partnership of A, B and C shows the following information: 22,400 Liabilities Cash 38,400 212,000 A, capital (50%) B, capital (25%) C, capital (25%) 234,400 Total liabilities & equity Other assets 76,000 64,000 56,000 234,400 Total assets The partners realized P56,000 from the first installment sale of non-cash assets with total carrying amount of P120,000. How much did B receive from the partial liquidation?

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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