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The statement of financial position for the partnership of AA BB and CC who share profits in the ratio of 211. shows the following balances
The statement of financial position for the partnership of AA BB and CC who share profits in the ratio of 211. shows the following balances just before the liquidation: Cash P12.000 Other assets 59,500 Liabilities 49.000 AA capital 22.000 BB capital 15,500 , capital 115.000) On the first instalment of the liquidation again of P8.525 was realized from the sale of certain assess. Liquidation expenses of P1.000 was paid, and additional liquidation expenses are anticipated sites paid amounted to P34.000. Remaining book value of other assets is P1.550. On the first payment to partners. AA receives P6,250 How much is the amount of cash withheld for anticipated liquidation expenses and unpaid abilities P1550 P27850 P2390 229.200
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