On January 1, 20x20. ACJ Partnership entered into liquidation. The partners' capital balances on this date were as follows: A (25%) P2,500,000; C (35%) P5,400,0003; J (40%) P3.700,000. The partnership...


On January 1, 20x20. ACJ Partnership entered into liquidation. The partners' capital balances on this date were as follows: A (25%)<br>P2,500,000; C (35%) P5,400,0003; J (40%) P3.700,000. The partnership has liabilities amounting to P4,400,000, including a loan from C<br>P600.000. Cash on hand before the start of liquidation is P800,000.<br>Noncash assets amounting to P7,400,000 were sold at book value and the rest of the noncash assets were sold al a loss of P4.200,000.<br>How much cash will be distributed to the partners?<br>

Extracted text: On January 1, 20x20. ACJ Partnership entered into liquidation. The partners' capital balances on this date were as follows: A (25%) P2,500,000; C (35%) P5,400,0003; J (40%) P3.700,000. The partnership has liabilities amounting to P4,400,000, including a loan from C P600.000. Cash on hand before the start of liquidation is P800,000. Noncash assets amounting to P7,400,000 were sold at book value and the rest of the noncash assets were sold al a loss of P4.200,000. How much cash will be distributed to the partners?

Jun 11, 2022
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