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How much cash can be distributed safely to each partner

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Question - When Sam and Piolo, partners who share earnings equally, were incapacitated in an airplane accident, a liquidator was appointed to wind up their business. The accounts showed cash, P35,000; other assets, P110,000; Liabilities, P20,000; Sam Capital, P71,000; and Piolo capital, P54,000. Because of highly specialized nature of noncash assets, the liquidator anticipated that considerable time would be required to dispose them, The expenses of liquidating the business (advertising, rent, travel, etc) are estimated at P10,000. How much cash can be distributed safely to each partner at this point?

Reference no: EM132564255

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