Solution-How much cash will anthony receive

How much cash will anthony receive

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Reference no: EM133029432

Question - Mark, Anthony, and Fernandez are in the process of liquidating their partnership and their account balances as of October 1, 2020 are as follows:

	DEBIT	CREDIT
Cash	$30,000
Non-Cash Asset	70,000
Anthony Loan		$14,000
Mark, Capital		10,000
Anthony, Capital		35,000
FERNANDEZ, Capital		41,000

The profit and loss sharing ratio has been 4:3:3 between Mark, Anthony, and FERNANDEZ, respectively. Assuming that the partnership realized P30,000 from the sale of the non-cash assets and that any deficiency is uncollectible. How much cash will Anthony receive?

A. 49,000 B. 34,000 C. 37,000 D. 19,000

Reference no: EM133029432

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How much cash will anthony receive

Reference no: EM133029432

Reference no: EM133029432

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