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pls give the computation of each numbers Numbers 11 - 14 are based on the following: Amanda and Amity are partners and share profits and
pls give the computation of each numbers
Numbers 11 - 14 are based on the following: Amanda and Amity are partners and share profits and losses in a ratio of 3 : 2 respectively. Account balances show the following: Cash P100,000 (Dr) Non-cash Assets P400,000 (Dr) Liabilities P300,000 (Cr) Amanda Capital P100,000 (Cr) Amity Capital P100,000 (Cr) 11. If the non-cash assets are sold for P500,000 then Amanda's capital account will galaszzol brun increase by P60,000 tub.000.0089 b. increase by P50,000. c. decrease by P60,000, d. decrease by P50,000. e. none of the above. 12. If the non-cash assets are sold for P350,000 then Amanda's capital account will a. increase by P30,000. b. increase by P25,000. c. decrease by P30,000. d. decrease by P25,000. none of the above. e. 13. If the non-cash assets are sold for P200,000; each partner is personally solvent and agreed to make up for any capital deficits with personal cash contributions, Amity will eventually receive cash of a. PO. b. P10,000. c. P20,000 d. P30,000 e. None of the above 14. If the non-cash assets are sold for P200,000, and each partner is personally insolvent, Amity will receive cash of a. PO. b. P10,000 c. P20,000. d. P30,000 e. None of the aboveStep by Step Solution
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