On December 31, 2020, the accounting records of Alma, Brenda, and Dely partnership included the following balances: Alma, drawing 60,000; Dely, drawing P22,500; Brenda loan P75,000; Alma, capital 307,500; Brenda, capital P251,250 and Dely, capital P270,000. The total assets of the partnership amounted to P1,196,250, including P131,250 cash, and partnership liabilities totaled P375,000. The partnership was liquidated Dec. 31 and Dely received P208,125 cash pursuant to the liquidation. Alma, Brenda and Dely share profits and losses in a 5:3:2 ratio, respectively. 999,375 774,375 886,875 624,375 The loss on realization is: Group of
On December 31, 2020, the accounting records of Alma, Brenda, and Dely partnership included the following balances: Alma, drawing 60,000; Dely, drawing P22,500; Brenda loan P75,000; Alma, capital 307,500; Brenda, capital P251,250 and Dely, capital P270,000. The total assets of the partnership amounted to P1,196,250, including P131,250 cash, and partnership liabilities totaled P375,000. The partnership was liquidated Dec. 31 and Dely received P208,125 cash pursuant to the liquidation. Alma, Brenda and Dely share profits and losses in a 5:3:2 ratio, respectively. 999,375 774,375 886,875 624,375 The loss on realization is: Group of
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 59P
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Question
On December 31, 2020, the accounting records of Alma, Brenda, and Dely
999,375
774,375
886,875
624,375
The loss on realization is:
Group of answer choices
309,374
61,875
868,125
196,875
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