Question
. On January 1, 2018, YoLanDa Partnership entered into liquidation. The partners capital balances on this date were as follows: Yo (25%) P2,500,000; Lan (35%)
. On January 1, 2018, YoLanDa Partnership entered into liquidation. The partners capital balances on this date were as follows: Yo (25%) P2,500,000; Lan (35%) P5,400,000; Da (40%) P3,700,000. The partnership has liabilities amounting to P4,400,000, including a loan from Lan P600,000. Cash on hand before the start of liquidation is P800,000.
With the information given, answer the following independent situations:
Case 3
- If Lan received P2,255,000, how much was the loss from the realization of the noncash assets? a.P5,255,000
b. P9,945,000
c. P10,525,000
d. P10,700,000
Please show the solution. thank you.
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Applications Of Statistical Sampling To Auditing
Authors: Alvin A. Arens, James K. Loebbecke
1st Edition
0130391565, 978-0130391568
