18

A balance sheet for the partnership of Suzy, Millette and Myra, who share profits in the ratio of 50:25:25, shows the following balance just before liquidation:

Cash	P 162,000		Suzy, capital (50%)	P 297,000
Other assets	803,250		Millette, capital (25%)	209,500
Liabilities	269,750		Myra, capital (25%)	189,000

On the first month of liquidation, certain assets with book value of P500,000 were sold for P432,000. Liquidation expenses of P13,500 are paid, and additional liquidation expenses are anticipated. Liabilities are paid amounting to P72,900 and sufficient cash is retained to insure the payment to creditors before making payments to partners. On the first payment to partners, Suzy receives P84,375.

What is the amount of cash withheld for anticipated liquidation expenses?

Group of answer choices

237,600

0

40,500

197,100