AS Of January 31 , 2019 , the following transactions occurred : Noncash assets were sold at 90 % its book value . Liquidation expenses of P 50

Homework Help [Partnership Liquidation - Lump Sum]

Hello, need help answering the attached exercise related to partnership. Please provide solutions and detailed explanations.

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AS Of January 31 , 2019 , the following transactions occurred :"Noncash assets were sold at 90 % its book value .Liquidation expenses of P 50 , 000 were paid .20% of the liabilities to third persons were settled .1 . What is the amount of cash received by partner Chinnyon January 31 , 2019 ?2 . How much was received by Alphonse ?3 . How much should the non-cash assets be sold to avoidincurring deficit' amongst . the partners ? Disregard. liquidation expenses .