Log in

View Full Version : Partnership liquidation


essej
Dec 31, 2010, 01:04 AM
Barbara and streisand are partners sharing profits and losses in the ratio of 55% and 45%.Barbara's capital investment is P18,000 and streisand's is P14,000.It is decided by the partners that the business should be terminated.The firm has liabilities of P28,800.Barbara has a loan of P3600 and streisand's has P 2400.Afterrealization,the cash on hand amounts to P30,000.Any deficient partner is insolvent.

Curlyben
Dec 31, 2010, 01:05 AM
Thank you for taking the time to copy your homework to AMHD.
Please refer to this announcement: https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html

essej
Dec 31, 2010, 01:08 AM
How to solve this problem??