Solution-What amount of kaila partnership equity would

What amount of kaila partnership equity would appear

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Reference no: EM133131639

Question - The Partnership of Kaila, Kaizer, and Kyle was dissolved on June 30, 2021 and account balances after non-cash assets were converted into cash on September 1, 2021 are:

Cash P50,000

Accounts Payable 120,000

Kaila, Capital (30%) 90,000

Kaizer, Capital (30%) (60,000)

Kyle, Capital (40%) (100,000)

Personal Assets and Liabilities of the partners on September 1, 2021 are:

Partners Personal Assets Personal Liabilities

Kaila P80,000 P90,000

Kaizer P100,000 P61,000

Kyle P190.000 P80,000

If Kyle contributes P70,000 to the partnership to provide cash to pay creditors, what amount of Kaila's P90,000 partnership equity would appear to be recoverable?

Reference no: EM133131639

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What amount of kaila partnership equity would appear

Reference no: EM133131639

Reference no: EM133131639

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