Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 32. the condensed statement of financial position

32. The condensed statement of financial position is presented for Borromeo, Corpuz, and Dedumo, who...

90.2K

Verified Solution

Question

Accounting

image
32. The condensed statement of financial position is presented for Borromeo, Corpuz, and Dedumo, who share profits and losses in the ratio of 4:3:3, respectively: Assets Liabilities and Capital Cash Pho0,000 Liabilities P150,000 Other Assets 300,000 Borromeo, capital 40,000 Corpuz, capital 180,000 Dedumo, capital 30,000 Total P400.000 Total P400.000 The partners agreed to dissolve the partnership after selling the other assets for P200,000. Upon dissolution of the partnership, Borromeo should have received O a. Po b. P40,000 O c. P60.000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students