Upon liquidation, the A&N Partnership realizes a gain on sale of assets amounting to P120,000. The gain is allocated to the partners, Arnel and Nilo, according to their profit and loss ration of 2:1. How is the gain allocated to each partner? a.) Arnel - P60,000; Nilo - P60,000 b.) Arnel - P80,000; Nilo - P40,000 c.) Arnel - P40,000; Nilo - P80,000 d.) Arnel - P240,000 Nilo - P120,000 SHOW COMPLETE SOLUTION.

Upon liquidation, the A&N Partnership realizes a gain on sale of assets amounting to P120,000. The gain is allocated to the partners, Arnel and Nilo, according to their profit and loss ration of 2:1. How is the gain allocated to each partner? a.) Arnel - P60,000; Nilo - P60,000 b.) Arnel - P80,000; Nilo - P40,000 c.) Arnel - P40,000; Nilo - P80,000 d.) Arnel - P240,000 Nilo - P120,000 SHOW COMPLETE SOLUTION.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter10: Partnerships: Formation, Operation, And Basis

Section: Chapter Questions

Problem 29P

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