IV On December 31, 2020, the Statement of Financial Position of ABC Partnership with profit or loss ratio of 6:1:3 of partners A, B and C respectively, revealed the following data: Cash 1,000,000 Other Liabilities 2,000,000 Receivable from A 500,000 Payable to B 1,000,000 Other non cash assets 2,000,000 Payable to C 100,000 A, Capital 700,000 B. Capital (650.000)
IV On December 31, 2020, the Statement of Financial Position of ABC Partnership with profit or loss ratio of 6:1:3 of partners A, B and C respectively, revealed the following data: Cash 1,000,000 Other Liabilities 2,000,000 Receivable from A 500,000 Payable to B 1,000,000 Other non cash assets 2,000,000 Payable to C 100,000 A, Capital 700,000 B. Capital (650.000)
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter11: Stockholders' Equity
Section: Chapter Questions
Problem 11.22E
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