Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i'll make sure to upvote the one whil will answer

I'LL MAKE SURE TO UPVOTE THE ONE WHIL WILL ANSWER THIS QUESTION N, X,...

90.2K

Verified Solution

Question

Accounting

image

I'LL MAKE SURE TO UPVOTE THE ONE WHIL WILL ANSWER THIS QUESTION

N, X, and Y are partners sharing profits and losses in the ratio of 4:3:3, respectively. The condensed balance sheet of NXY Partnership as of December 31, 2020 is: P50,000 Liabilities P40,000 Cash Other Assets 130,000 60,000 N. Capital X, Capital 40,000 Y, Capital 40,000 Total 180,000 Total 180,000 The NXY Partnership is dissolved and liquidated by installments. The first realization of P40,000 cash is on the sale of other assets with book value of P80,000. After payment of liabilities, the cash available is distributed to N, X, and Y, respectively. Determine the following: The cash received by Partner N on the distribution of cash. Choose.... The cash balance after the first realization but prior to payment of liabilities. Choose... The cash received by Partner X on the distribution of cash. Choose... The cash available for distribution. Choose... The cash received by Partner Y on the distribution of cash. Choose

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!
Become a Member

Other questions asked by students

Q

Take a look at this new companies projected cash flow statement. Analyze and describe the health...

Finance
Q

Manufacturing overhead cost was applied to jobs, Rmb ?

Finance
Q

for nucleic acids, where is it meaningfully digested in humans?what is the enzyme used to break...

Medical Sciences
Q

Describe what psychologists mean when they say that attention and working memory have a limited capacity....

Psychology
Q

The mycolic acid layer in acid fast bacteria is a waxy and somewhat hard to...

Biology
Q

5 Emma hits a golf ball off a tee The height of the ball is...

Basic Math
Q

Alert Medical, LLC, consists of two doctors, Abrams and Lipscomb, who share in all income...

Accounting
Q

How can green processes yield a good reputation for a firm? Give some...

Accounting
Q

Brunch Ltd has a building which cost $475,000 and has an accumulated depreciation balance of...

Accounting
Q

Problem 17-21 (Algo) Pension disclosure; amortization of actuarial gain or loss; Supplies \& More [LO17-3,...

Accounting
Q

9. Which of the following groups of accounts will be shown on the balance sheet?...

Accounting
Q

The management of the Big Pillow hotel wishes to adopt the moving average model to...

Accounting