Homework Help [Partnership Liquidation – Lump Sum] Hello, need help answering the attached exercise related to partnership. Please provide solutions and detailed explanations.
1. If non-cash assets are sold for $150,000 and all liabilities are paid and liquidation expenses of P 5, 000 are also paid ,how much cash should Alex , Aaron , and Anthony receive ?
2. If non – cash assets are sold for $ 50, 000 and all liabilities are*paid and liquidation expenses of P 5 , 000 are also paid, how much cash should Alex , Aaron , and Anthony receive?
3. If non-cash assets are sold for $40, 000 and all liabilities are. paid and liquidation expenses of PIO,000 are also paid ,how much cash should Alex , Aaron , and Anthony receive?
*4 . If Anthony received a total of P18,000 in the cash distribution:
“a. How much cash should Alex receive ?”b. Assuming there are no liquidation expenses , how much is the gain or loss on realization ?