Reference no: EM132975459

Question - MARCON Co. has been undergoing liquidation since January 1. As of March 31, its condensed statement of realization and liquidation is presented below:

Assets:

Assets to be realized 2,062,500

Assets acquired 1,125,000

Assets realized 1,800,000

Assets not realized 2,062,500

Liabilities:

Liabilities liquidated 2,812,500

Liabilities not liquidated 2,550,000

Liabilities to be liquidated 3,375,000

Liabilities assumed 2,437,500

Revenues and Expenses:

Supplementary charges 4,687,500

Supplementary credits 4,200,000

Required - Find the net gain (loss) for the three-month period ending March 31?

A. P250,000

B. (P325,000)

C. P425,000

D. 637,500