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30.Prior to liquidation, the liabilities and partners' capital are reported with the following balances: (See attached picture) The total liabilities of the partnership amount to
30.Prior to liquidation, the liabilities and partners' capital are reported with the following balances: (See attached picture) The total liabilities of the partnership amount to P150,000, and all assets available are noncash assets which were realized at P540,000. The cash distribution to Oprah and Ruth upon liquidation respectively would be: Partners Orpah Ruth Capitals P160,000 290,000 P450,000
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