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What the change in selisana capital account will be

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Partners Biore and Selisana each have 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.

Problem a. If the non-cash assets are sold for P1,000,000, the change in Selisana's capital account will be (indicate also if increased or decreased)

Problem b. the non-cash assets are sold for P700,000 and each partners is personally insolvent, upon liquidation Selisana will receive cash distribution of:

Problem c. If the non cash assets are sold for P700,000 and both partners agree to make up for any capital deficits with personal cash contributions, upon liquidation Selisana will receive a cash distribution of

Reference no: EM132958017

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