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Find how much cash can be distributed safely at the point

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Reference no: EM132739946

Problem 1: When APPLE and PIE, partners who share earnings 60:40, were severely injured in an accident, a liquidator was appointed to wind up their business. The accounts showed cash, P90,000; other assets, P235,000; liabilities, P45,000; Apple's capital, Pl26,000; and Pie's capital, PI54,000. The expenses of liquidating the business (advertising, rent, travel, etc.) are estimated at P25,000. How much cash can be distributed safely at this point?

Reference no: EM132739946

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