- How Much Is The Share Of M In The Loss On Realization Of Non Cash Assets D 2 Points The Partnership Of E M And P Has 1 (203.12 KiB) Viewed 37 times
- How Much Is The Share Of M In The Loss On Realization Of Non Cash Assets D 2 Points The Partnership Of E M And P Has 2 (377.42 KiB) Viewed 37 times
How much is the share of M in the loss on realization of non-cash assets? D 2 Points) The partnership of E, M and P has been suffering financial difficulty. Partners decided to liquidate. The condensed statement of financial position of E, Mand P on this date is as follows: E, M and P Partnership Statement of financial position December 31, 2019 Assets Liabilities & Capital Cash P 20,000 Accounts payable P 40,000 Other assets 340,000 E. Capital 152,000 M. Capital 88,000 P. Capital 80,000 Total assets P 360,000 Total Liabilities & Capital P 360,000 The profit and loss ratio are: E, 20% M, 30% and P, 50%. The non-cash assets were sold for P 100,000. Any deficient partner is insolvent, while others are solvent. Enter your answer
10 After operating for five years, the books of the partnership of A and B showed the following balances: Net assets A Capital B. Capital P 130,000 85,000 45,000 Liabilities of the partnership is P 50.000 and cash is 25% of the total value of non-cash assets. The liquidation takes place at this point and the net assets are realized at 150% of book value. All partners are solvent. How much will A receive from the partnership is the final distribution of remaining cash in the liquidation process? . (2 Points) Enter your answer