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The following balance sheet is presented for the partnership of Agnes and Heidee and Jonalyn who share profits and losses in the ratio of 5:3:2
The following balance sheet is presented for the partnership of Agnes and Heidee and Jonalyn who share profits and losses in the ratio of 5:3:2 respectively: Cash P 60,000 Liabilities P140,000 Other Assets 540,000 Agnes, Capital 280,000 Heidee, Capital 160,000 Jonalyn, Capital 20,000 Total P600,000 Total P600,000 The partners decide to liquidate the partnership. If other assets are sold for P400,000, how much will Agnes receive? Jonalyn is a limited partner
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