Question
Iyah, Ayah and Mia operate a business as a partnership and share net income and net loss in a 3:3:4 ratio, respectively. The personal
Iyah, Ayah and Mia operate a business as a partnership and share net income and net loss in a 3:3:4 ratio, respectively. The personal assets and liabilities of the partners, gathered from their personal records show: Partner Assets Liabilities Iyah (General Partner) P470,000 P450,000 Ayah (General Partner) 200,000 280,000 Mia (Limited Partner) 305,000 300,000 The statement of financial position is as shown below. Assets are sold for P175,000. Liabilities are paid as soon as cash is available. Creditors collect from solvent partners. whenever necessary. How much is the additional investment made by Ayah? Cash 10,000 Accounts Payable P200,000 Non-Cash 375,000 Loan, Mia 5,000 Iyah, Capital 50,000 Ayah, Capital 70,000 Mia, Capital 60,000 Customize
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