44. The condensed statement of financial position of Ricablanca, Tac- an and Dimalanta partnership as...
80.2K
Verified Solution
Link Copied!
Question
Accounting
44. The condensed statement of financial position of Ricablanca, Tac- an and Dimalanta partnership as of March 31, 2021 follows: Assets Cash P 28,000 Non-cash assets Total 1 265.000 P293,000 Liabilities P 48.000 Ricablanca, Capital 95,000 Tac-an, Capital 80,000 Dimalanta, Capital 70,000 Total P293.000 Profit and loss ratio is 50:25:25, respectively. The partners voted to dissolve the partnership and liquidate by selling assets in installments. P70,000 was realized on the first cash sale of other non-cash assets which has a book value of P150,000. After settlement with creditors. all cash available was distributed to partners. How much cash did Dimalanta receive
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
