Question
A third party offered to buy the non-cash assets and assume the accounts payable of the partnership for P960,000. However, certain assets are to
A third party offered to buy the non-cash assets and assume the accounts payable of the partnership for P960,000. However, certain assets are to be revalued as follows: Accounts receivable, P90,000; Inventory, P150,000; and Equipment, P640,000 Requirement: Compute for the cash distributions to the partners.
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
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