19. Partners Lanvega, Tauroneo, and Bryce share profits and losses in the ratio of 4:5:1. The statement of financial position for the partnership is as follows: P50,000 Accounts Payable 360,000...

19. Partners Lanvega, Tauroneo, and Bryce share profits and losses in the<br>ratio of 4:5:1. The statement of financial position for the partnership is<br>as follows:<br>P50,000 Accounts Payable<br>360,000 Lanvega, Capital<br>Tauroneo, Capital<br>Bryce, Capital<br>P410,000 Total Liabilities<br>and Capital<br>Cash<br>P150,000<br>Inventory<br>160,000<br>45,000<br>55,000<br>Total Assets<br>P410,000<br>If the inventory is sold for P300,000, how much should Lanvega receive<br>upon liquidation of the partnership?<br>

Extracted text: 19. Partners Lanvega, Tauroneo, and Bryce share profits and losses in the ratio of 4:5:1. The statement of financial position for the partnership is as follows: P50,000 Accounts Payable 360,000 Lanvega, Capital Tauroneo, Capital Bryce, Capital P410,000 Total Liabilities and Capital Cash P150,000 Inventory 160,000 45,000 55,000 Total Assets P410,000 If the inventory is sold for P300,000, how much should Lanvega receive upon liquidation of the partnership?

Jun 09, 2022

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19. Partners Lanvega, Tauroneo, and Bryce share profits and losses in the ratio of 4:5:1. The statement of financial position for the partnership is as follows: P50,000 Accounts Payable 360,000...

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