The balance sheet of Ryan and Peter firm as at 30 June 2017 is given below.

Ryan and Peter share profits in the ratio 3:2.They have decided to liquidate the partnership with immediate effect.The furniture and the equipment were sold at a cumulative loss of $57,000.The accounts receivable were duly received in cash and the other assets were written off as worthless.The cash balance remaining to pay the liabilities is:

Question

The balance sheet of Ryan and Peter firm as at 30 June 2017 is given below.

Ryan and Peter share profits in the ratio 3:2.They have decided to liquidate the partnership with immediate effect.The furniture and the equipment were sold at a cumulative loss of $57,000.The accounts receivable were duly received in cash and the other assets were written off as worthless.The cash balance remaining to pay the liabilities is:

Quizplus · Accepted Answer

The Answer of The balance sheet of Ryan and Peter firm as at 30 June 2017 is given below.

Ryan and Peter share profits in the ratio 3:2.They have decided to liquidate the partnership with immediate effect.The furniture and the equipment were sold at a cumulative loss of $57,000.The accounts receivable were duly received in cash and the other assets were written off as worthless.The cash balance remaining to pay the liabilities is:

The Balance Sheet of Ryan and Peter Firm as at 30