- 20 How Much Is Did M Receive In Final Settlement Of His Capital Interest 2 Points The Partnership Of E M And P Has B 1 (186.57 KiB) Viewed 105 times
- 20 How Much Is Did M Receive In Final Settlement Of His Capital Interest 2 Points The Partnership Of E M And P Has B 2 (432.63 KiB) Viewed 105 times
20 How much is did M receive in final settlement of his capital interest? (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 P 360,000 Total Liabilities & Capital 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
wa Andres, Tomas and Moises are partners of ATM partnership. They decided to liquidate on March 31 of the current year. On this date, they have non- cash assets of P530,000 and liabilities of P250.000, including loan payable to Moises of P50,000. Andres, Tomas and Moises have capital balances of P80.000, P130,000 and P90,000, respectively. Profits and loss are shared 3:3:4 for Andres, Tomas and Moises. All partners are solvent. if Moises received P25,000 in final settlement how much is the total interest of Moises in the partnership that he received for cash? (2 Points) Enter your answer