case 4: other assets are sold for 104,000. The personal assets and liabilities of the partners are as follow.

	personal assets	personal liabilities
anita	200,000	160,000
banana	100,000	90,000
carla	60,000	50,000

how much did anita receive?

prepare liquidation statement and journal entries to record the liquidation.

Practice Exercise 8-2: Statement of Liquidation and Journal Entries) Anita, Banana and Carla are partners in the ABC partnership decided to liquidate. The condensed statement of financial position of the partnership as of December 31, 2020 is presented below: Assets Liabilities and Capital Cash P40,000 Liabilities P 140,000 Non-cash Assets 360,000 Carla, Loan 20,000 Anita, Capital 140,000 Banana, Capital 80,000 Carla, Capital 20,000 Total Assets P 400,000 Total Liabilities and Capital P 400,000 Anita, Banana and Carla share profits and losses in the ratio of 5:3:2, respectively