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PLS HELP THANKS B. Villanueva and Santos are about to liquidate their partnership. They each have P200.000 capital balances and they share profit and losses

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PLS HELP THANKS

B. Villanueva and Santos are about to liquidate their partnership. They each have P200.000 capital balances and they share profit and losses in a 3:1 ratio, respectively. In addition, the partnership has P250,000 in cash, P450,000 non-cash assets, and P300,000 in accounts payable. Assuming that non-cash assets are sold for P170,000 and that both partners are personally solvent, prepare a statement of liquidation. VS Partnership Statement of Liquidation December 31, 2019 Cash + Non-cash assets Accounts payable + Villanueva, Capital Santos, Capital Balances 250,000 + 300,000 = 300,000 + 200,000 200,000

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