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What the capital balance of domingo was

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Silverio, Domingo, Reyes, and Pastor are partners sharing earnings in the ratio of 3:4:6:8respectively.

The balances of their capital accounts on December 31, 2011 are as follows:

Silverio P 1,000; Domingo P25,000; Reyes P 25,000; and Pastor P9,000.

The partners decided to liquidate, and they accordingly convert the non-cash assets into P23,200 of cash. After paying the liabilities amounting to P3,000, they have P22,200 to divide.

Problem 1: Assume that a debit balance in any partner's capital accounts is uncollectible. After the P22,200 was divided, the capital balance of Domingo was:

a. P3,200

b. P3,920

c. P4,500

d. P17,800

Reference no: EM132698815

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