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Problem #2 Lump-Sum Liquidation With Loss On Realization
Problem #2 Lump-Sum Liquidation With Loss On Realization
Problem #2 Lump-Sum Liquidation With Loss On Realization
Cash
Profit and Loss Percentages
Balances before Liquidation ₱150,000
Realization of Non-Cash Assets and Distribution of Losses 2,150,000
Balances 2,300,000
Payment of Liabilities to Outsiders (750,000)
Balances 1,550,000
Payments to Partners (1,550,000)
Cash 2,150,000
Loss on Realization 450,000
Non-Cash Assets
Payment of Liabilities
Liabilities 750,000
Cash
2,600,000
450,000
750,000
1,550,000