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Miranda, Leon and Estoque

The statement of liquidation shows the balances of Miranda, Leon, and Estoque's partnership before and after liquidation on March 31, 20x1. It details the sale of non-cash assets for ₱2,150,000, payment of liabilities of ₱750,000, and final payments made to the partners of ₱1,550,000, leaving each with their original capital balances.

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2K views1 page

Miranda, Leon and Estoque

The statement of liquidation shows the balances of Miranda, Leon, and Estoque's partnership before and after liquidation on March 31, 20x1. It details the sale of non-cash assets for ₱2,150,000, payment of liabilities of ₱750,000, and final payments made to the partners of ₱1,550,000, leaving each with their original capital balances.

Uploaded by

Hana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Miranda, Leon, and Estoque

Statement of Liquidation
March 31, 20x1
Cash Non-cash assets Liabilities Miranda, Capital Leon, Capital Estoque, Capital
Balances before Liquidation ₱150,000 ₱2,600,000 ₱750,000 ₱400,000 ₱600,000 ₱1,000,000
Sale of non-cash assets and Distribution losses ₱2,150,000 (₱2,600,000) (₱150,000) (₱150,000) (₱150,000)
Balances ₱2,300,000 ₱750,000 ₱250,000 ₱450,000 ₱850,000
Payment of liabilities (₱750,000) (₱750,000)
Balances ₱1,550,000 ₱250,000 ₱450,000 ₱850,000
Payments to partners (₱1,550,000) (₱250,000) (₱450,000) (₱850,000)

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