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please answer asap. thank you ANSWER THE FOLLOWING QUESTIONS BASED ON THE DATA GIVEN BELOW: The partnership of Aldrin, Allen and Althea decided to liquidate
please answer asap. thank you
ANSWER THE FOLLOWING QUESTIONS BASED ON THE DATA GIVEN BELOW: The partnership of Aldrin, Allen and Althea decided to liquidate on December 31, 2022. Their statement of financial position as of December 31, 2022 shows the following information: All non-cash assets are sold for P2,200,000. The partners share profit and loss on the ratio 4:2:4. Althea can contribute only 50% additional cash for her capital deficiency, the balance shall be absorbed by the partners with positive capital balances. No labels or peso signs needed in your answers. How much is the cash distribution to Aldrin relating to his capital 5 points contribution? How much is the cash distribution to Allen relating to his capital contribution? How much is the loss on realization of non-cash assets? * 5 points How much is the additional cash contribution of Althea? * 5 points Step by Step Solution
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