Problem 8 A partnership is in the process of liquidation since only one of the partners (ME) is solvent. Capital balances at the time of liquidation were as follows. Profits and losses are divided on a 4:2:2:2 basis, respectively. МА, Саpital SA, Capital YA, Capital ME, Capital 60,000 67,000 17,000 96,000 MA's creditors filed a P25,000 claim against the partnership's assets. At that time, the partnership held assets reported at P360,000 and liabilities of P120,000. If the assets could be sold for P228,000, what is the minimum amount that MA's creditors would have received? 38,720 36.000 А. с. 2,500 B.
Problem 8 A partnership is in the process of liquidation since only one of the partners (ME) is solvent. Capital balances at the time of liquidation were as follows. Profits and losses are divided on a 4:2:2:2 basis, respectively. МА, Саpital SA, Capital YA, Capital ME, Capital 60,000 67,000 17,000 96,000 MA's creditors filed a P25,000 claim against the partnership's assets. At that time, the partnership held assets reported at P360,000 and liabilities of P120,000. If the assets could be sold for P228,000, what is the minimum amount that MA's creditors would have received? 38,720 36.000 А. с. 2,500 B.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter19: Accounting For Partnerships
Section: Chapter Questions
Problem 9SPB
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Transcribed Image Text:Problem 8
A partnership is in the process of liquidation since only one of the partners
at the time of liquidation were
(ME)
is
solvent.
Capital balances
as
follows.
Profits and losses are divided on a 4:2:2:2 basis, respectively.
МА, Саpital
SA, Capital
YA, Capital
ME, Capital
60,000
67,000
17,000
96,000
MA’S creditors filed a P25,000 claim against the partnership's assets.
that time, the partnership held assets reported at P360,000 and liabilities
of P120,000.
At
If the assets could be sold for P228,000, what is
MA's creditors would have received?
the minimum amount
that
38,720
36,000
2,500
D.
A.
с.
в.
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