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What the share of rizal in the distribution of cash would be

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As of December 31, 2016, the books of RST Partnership showed capital balances of: Rizal, P160,000, Sison, P100,000, Torres, P20,000. The partner's profit and loss ratio was 3:2:1, respectively. The partners decided to liquidate and they sold all non-cash assets for P148,000. After settlement of all liabilities amounting to P48,000, they still have cash of P112,000 left for distribution.

Assuming that any capital deficiency is uncollectible:

Problem 1: The share of Rizal in the distribution of cash would be:

A. P0            ?????C. P4,800
B. P76,000????     D. P71,200

Problem 2: The share of Sison in the distribution of cash would be:

A. P0?????           C. P3,200
B. P40,800    ????D. P44,000

Problem 3: The share of Torres in the distribution of cash would be:

A. P0?????                  C. P8,000
B. P124,000????          D. P76,000

Reference no: EM132893483

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