After paying all their liabilities, Mark, Lark, and Park had the following balances: Partner Capital Loans P&L ratio Mark P102,960 P90,000 12/25 Lark 89,040 30,000 8/25 Park 68,100 39,900 5/25 Cash available for distribution amounts to P37,800, remaining assets of P382,200 will berealized piecemeal in the next month. How much of the P37,800 cash should Parkreceive?
After paying all their liabilities, Mark, Lark, and Park had the following balances: Partner Capital Loans P&L ratio Mark P102,960 P90,000 12/25 Lark 89,040 30,000 8/25 Park 68,100 39,900 5/25 Cash available for distribution amounts to P37,800, remaining assets of P382,200 will berealized piecemeal in the next month. How much of the P37,800 cash should Parkreceive?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 5RE
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After paying all their liabilities, Mark, Lark, and Park had the following balances:
Partner Capital Loans P&L ratio
Mark P102,960 P90,000 12/25
Lark 89,040 30,000 8/25
Park 68,100 39,900 5/25
Cash available for distribution amounts to P37,800, remaining assets of P382,200 will berealized piecemeal in the next month. How much of the P37,800 cash should Parkreceive?
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