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What liquidation lisa will receive a cash distribution of

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Problem 1: Partners Lorie and Lisa each have a P450,000 capital balance and share profits and losses in a 3:2 ratio, respectively. Cash equals P150,000, non-cash assets equal P1,500,000, and liabilities equal P750,000. If the non-cash assets are sold for P700,000, and both partners agreed to make up for any capital deficits with personal cash contributions, upon liquidation Lisa will receive a cash distribution of:

a. 0
b. P130,000
c. P50,000
d. P100,000

 

Reference no: EM132904266

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