How much should be distributed to Dana

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Reference no: EM132793177

Question - On August 16, 2003, Tyron, Dana and Ira form a partnership investing cash of P105,000, P94,500 and P29,400 respectively. The partners share profits 3:2:2 and on October 29, 2003; they have cash of P7,000 and other assets of P332,500; liabilities are P179,200, On this date they decided to go out of business and sell all the assets for P210,000. Ira has personal assets of P10,500 that may, if necessary, be used to meet partnership obligations. How much should be distributed to Dana upon liquidation of the partnership?

Reference no: EM132793177

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