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31. The account balances of Mary, Martha and Lazarus partnership prior to installment liquidation are: (See attached photo) After payment of P500,000 accounts payable, the
31. The account balances of Mary, Martha and Lazarus partnership prior to installment liquidation are: (See attached photo) After payment of P500,000 accounts payable, the first available cash in the process of liquidation would be paid to Profit sharing Assets Accounts payable Mary, Capital Martha, Capital Lazarus, Capital Balance P1,000,000 500,000 250,000 200,000 150,000 45% 30% 25% O Mary O Martha O Lazarus Equally to Martha and Lazarus
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