How much cash will sonia receive at the end of liquidation

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Reference no: EM132795354

The ledger of SOMATRA Company shows the following accounts on December 31, 2014:

Cash P100,000 Accounts Payable P220,000

Non-cash Assets 370,000 Rannie, Loan 10,000

Sonia, Capital 130,000

Matty, Capital 70,000

Rannie, Capital 40,000

problem 1: The partnership was liquidated by selling the noncash assets for P190,000. Among the partners, only Sonia is personally solvent. They divide profits and losses 30%, 30%, and 40% to Sonia, Matty, and Rannie, respectively. How much cash will Sonia receive at the end of the liquidation process?

Reference no: EM132795354

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