33. Partners AAA, BBB and CCC share profits and losses in the ratio of 5:3:2. At the end of a very unprofitable year, they decided to liquidate the firm. The partner's capital account balances at this time are as follows: AAA, P616,000 ; BBB, P697,200 ; CCC, P420,000. The liabilities accumulate to P840,000, including a loan of P280,000 from AAA. The cash balance is P168,000. All the partners are personally solvent. The partners plan to sell the assets in installment. If BBB received P100,800 from the first distribution of cash, how much did CCC receive at that time? A. P56,000 B. P22,400 C. P33,600 D. P61,600

33. Partners AAA, BBB and CCC share profits and losses in the ratio of 5:3:2. At the end of a very unprofitable year, they decided to liquidate the firm. The partner's capital account balances at this time are as follows: AAA, P616,000 ; BBB, P697,200 ; CCC, P420,000. The liabilities accumulate to P840,000, including a loan of P280,000 from AAA. The cash balance is P168,000. All the partners are personally solvent. The partners plan to sell the assets in installment. If BBB received P100,800 from the first distribution of cash, how much did CCC receive at that time? A. P56,000 B. P22,400 C. P33,600 D. P61,600

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations

Section: Chapter Questions

Problem 43P

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