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Dino, Doods, and Dong have the following accounts and their normal balances on January 31, 2021, the date the partners agreed to liquidate their
Dino, Doods, and Dong have the following accounts and their normal balances on January 31, 2021, the date the partners agreed to liquidate their 3D Partnership: Cash P20,000 Accounts Payable P10,000 Accounts Receivable 25,000 Notes Payable 27,000 Allowance for Bad Debts 5,000 Loan due to Dino 5,000 Merchandise Inventory 60,000 Loan due to Doods 7,000 Furniture & Equipment 50,000 Dino, Capital 20,000 Accumulated Depreciation 5,000 Doods, Capital 40,000 Dong, capital 36,000 The partners divide profits and losses 4:1-5, respectively Sales proceeds follow Accounts Receivable P10,000 Merchandise Inventory 30,000 Furniture & Equipment 20,000 How much is the cash available for distribution to the partners? Question 1: How much is the cash available for distribution to the partners? Question 2: Assuming that Dino is a limited partner, the cash paid to Dong is? Question 3: The sale resulted in a capital deficiency for? Question 4: How much is the non-cash assets? Question 5: Assuming that Dino is a limited partner, how much additional investment should Dong give?
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