Question
Sam, Alex and David are partners sharing profit and losses in the ratio 4:2:1 and with capital balances of P40,000, P50,000 and P18,000 respectively. If
Sam, Alex and David are partners sharing profit and losses in the ratio 4:2:1 and with capital balances of P40,000, P50,000 and P18,000 respectively. If Sam received P8,000 as final settlements of her interest upon liquidation of the partnership, the total amount received by all the partners was: *
a. P24,000
b. P52,000
c. P56,000
d. none of them
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
11th Edition
1264229739, 9781264229734
