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What is the amount of cash ee will receive upon liquidation

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Question - CC, DD, and EE are partners sharing profits and losses in the ratio of 7:5:3. During the year their investments and withdrawals are as follows:

 

Investments

Withdrawals

CC

35,000

25,000

DD

35,000

12,500

EE

60,000

12,500

On December 31, 2019, the partners decided to liquidate the business. After exhausting partnership assets, liabilities of P28,000 remain unpaid. CC is personally insolvent but DD and EE are personally solvent.

Required - What is the amount of cash EE will receive upon liquidation?

Reference no: EM133184598

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