Question
pls help The partnership of Cruz, Amistoso, and Galicia decided to liquidate their partnership on May 31, 2016. Before liquidating and sharing of net income,
pls help
The partnership of Cruz, Amistoso, and Galicia decided to liquidate their partnership on May 31, 2016. Before liquidating and sharing of net income, their capital balances are as follows: Cruz (30%) P875,000, Amistoso (30%) P630,000, and Galicia (40%) P770,000. Net income from January 1 to May 31 is P420,000. Liabilities of the partnership amounted to P735,000 and its total assets include cash amounting to P245,000. Unsettled liabilities are P385,000. mary invested additional cash enough to settle their partnerships indebtedness. paul is personally solvent, liz is personally insolvent, and mary becomes insolvent after investing the cash needed by the partnership. How much were the partnerships non-cash sold for? Group of answer choices 525,000 157,500 105,000 3,080,000
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