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How much was the loss on realization of non-cash assets

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Question - As of December 31, 2014, the books of Triple E Partnership showed capital balances of E1 - P40,000; E2 - P25,000; and E3 - P5,000. They share profits in the ratio of 3:2:1, respectively. They decided to liquidate, thereby selling all non-cash assets for P37,000 cash. After settlement of all liabilities amounting to P12,000, they still have P28,000 cash left for distribution. Any capital deficiency is uncollectible. How much was the loss on realization of non-cash assets?

Reference no: EM133166961

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