D, E, F are partners in DEF partnership with profit or loss sharing ratio of 6:1:3
Extracted text: D, E and F are partners in DEF Partnership with profit or loss sharing ratio of 6:1:3. Due to disagreement, the partners decided to liquidate their business with pre-liquidation statement of financial position presented below: Cash P 3,000,000 Liabilities P10,000,000 Noncash assets 17,000,000 D, Capital 1,000,000 E, Capital 4,000,000 F, Capital 5,000,000 The following additional notes are provided: All partners are legally declared to be personally insolvent. All noncash assets are sold during the liquidation process. Liquidation expenses amounting to P2,000,000 were paid. • E receives a total of P2,500,000 at the end of liquidation. What is the amount received by F at the end of liquidation?