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How much cash is distributed to s in the third installment

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The equity section of the statement of financial position of the partnership of R, S, and T shows the following information:

R, Capital (40%) P 64,000

S, Capital (40%) 104,000

T, Capital (20%) 76,800

Total P244,800

 

Question 1: Non-cash assets are sold in installment. Cash distributions are made to the partners as cash becomes available. In the second sale of non-cash assets, the partners received the same amount of cash in the distribution. In the third sale of non-cash assets the amount of cash available for distribution is P100,000. The carrying amount of the remaining non-cash assets is P260,000. Under the cash priority program, how much cash is distributed to S in the 3rd installment?

Reference no: EM132522941

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