Solution-What atlanta will receive

What atlanta will receive

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Reference no: EM132760865

GEORGIA, VIRGINIA, and ATLANTA are in the process of liquidating the partnership. ATLANTA has agreed to accept the inventory, which has a fair value of P 60,000, as part of her settlement. A balance sheet and the residual profit loss sharing percentages are as follows:

Cash P 248,000 Accounts Payable P 180,000

Inventory 100,000 GEORGIA, Capital (40%) 98,000

Plant Assets 280,000 VIRGINA, Capital (40%) 175,000

ATLANTA, Capital (20%) 175,000

Total Assets P 628,000 Total Liabilities and Capital P 628,000

Problem 1: If the partners then distribute the available cash using a safe payments schedule, ATLANTA will receive?

Reference no: EM132760865

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What atlanta will receive : GEORGIA, VIRGINIA, and ATLANTA are in the process, If the partners then distribute the available cash using a safe payments schedule, ATLANTA will receive?

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What atlanta will receive

Reference no: EM132760865

Reference no: EM132760865

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