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How much was loss from the realization of noncash assets

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Question - On January 1, 2013, ACJ Partnership entered into liquidation. The partners' capital balances on this date were as follows: A (25%) P2,500,000; C (35%) P5,400,000; J (40%) P3,700,000. The partnership has liabilities amounting to P4,400,000, including a loan from C P600,000. Cash on hand before the start of liquidation is P800,000. If C received P2,255,000, How much was the loss from the realization of the noncash assets?

Reference no: EM132792248

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