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How much will b receive from the partnership

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Reference no: EM133130224

Question - After operating for five years, the books of the partnership of A and B showed the following balances:

Net assets P130,000

A, Capital 85,000

B, Capital 45,000

Liabilities of the partnership is P 50,000 and cash is 25% of the total value of non-cash assets. The liquidation takes place at this point and the net assets are realized at 150% of book value. All partners are solvent.

1. How much will B receive from the partnership in the final distribution of remaining cash in the liquidation process?

2. How much will A receive from the partnership in the final distribution of remaining cash in the liquidation process?

Reference no: EM133130224

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