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How much is the final balance capital of tony

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Reference no: EM132755804

Cash P 43,000ACCT REC 155,000

ALLOW. FOR BAD DEBTS P 25,000

INVENTORY 250,000

FIXED ASSETS 320,000

DEP. EXPENSE 50,000

NOTES PAYABLE 40,000

ACCTS PAYABLE 97,000

LOANS PAYABLE -BOY 6,000

BOY, CAPITAL 50,000

PETE, CAPITAL 200,000

TONY, CAPITAL 300,000

All assets were sold for P 476,000, and cash were distributed to the partners. Profits are shared equally, and deficient partners has personal money.

Problem 1: How much is the distributed loss on realization for boy?

Problem 2: How much is the final balance capital of tony?

Problem 3: Compute for the loss on realization?

Reference no: EM132755804

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