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A and B decided to liquidate their partnership. The partnership's records show the following information:
Cash - Non-cash assets 80,000
Total assets 80,000
Liabilities 15,000
Loan payable to Partner A 10,000
Loan payable to Partner B 17,000
A, capital (80%) 20,000
B, capital (20%) 18,000
Total liabilities and equity 80,000
Problem 1: The non-cash assets are to be sold in installments and the partners' claims are to be settled as cash becomes available. In the first sale, half of the non-cash assets were sold for ?15,000. How much did A and B receive in the first cash distribution?
The EOQ is based on annual demand of 15,000 units. The ordering cost is P25. Determine the total ordering costs for the year
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The liabilities of Flint Corporation $200,600. Flint's share capital is $118,000 and its retained earnings are $106,200. What is amount of Flint's total assets
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