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How much should Fina receive upon liquidation

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Question - The condensed statement of financial position is presented for the partnership of Fina, Hana, and Danna, who share profits and losses in the ratio of 6:2:2, respectively:

Assets

Cash 40,000

Non-cash assets 140,000

Liabilities and Capital

Liabilities 70,000

Fina, Capital 50,000

Hana, Capital 50,000

Danna, Capital 10,000

-The partners agreed to liquidate the partnership after selling the other assets. If the other assets are sold for P75,000, how much should Fina receive upon liquidation, assuming all the partners are solvent?

-The partners agreed to liquidate the partnership after selling the other assets. Assuming that the other assets are sold for P60,000; profits are shared 5:2:3, respectively; and that any deficient partner is insolvent, how much amount should Hana receive upon liquidation?

-The partners agreed to liquidate the partnership after selling the other assets. If the other assets are sold for P75,000, how much should Fina receive upon liquidation, assuming all the partners are solvent?

Reference no: EM133040486

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