The balance of the DDD partnership, just before liquidation, is as follows: Assets Liabilities & Capital P 30,000 P 36,000 30,000 24,000 15,000 P 105,000 Cash Liabilities Non-cash Assets Dangayo, capital (50%) Dangpa, capital (30%) Dapyaw, capital (20%) 75,000 Total P 105,000 Total The non-cash assets are sold for P 15,000 net of liquidation expenses and the liabilities are paid. How the remaining cash should be distributed to Dangayo, Dangpa and Dapyaw:

The balance of the DDD partnership, just before liquidation, is as follows: Assets Liabilities & Capital P 30,000 P 36,000 30,000 24,000 15,000 P 105,000 Cash Liabilities Non-cash Assets Dangayo, capital (50%) Dangpa, capital (30%) Dapyaw, capital (20%) 75,000 Total P 105,000 Total The non-cash assets are sold for P 15,000 net of liquidation expenses and the liabilities are paid. How the remaining cash should be distributed to Dangayo, Dangpa and Dapyaw:

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 4BCRQ

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