The noncash assets of Sanggojae Company are carried on the balance sheet at P65,000. Partners Soh, Joh, and Jih sell these nonca
sh assets for P75,000. Soh, Joh, and Jih's income-sharing ratio is 2:2:1. They each currently have P25,000 in their capital accounts, and the cash balance is P15,000. Required: ... 21-25. Journal Entry for Sale of Non Cash Asset. 26-30. Jounral Entry for Division of Gain Between Partners. Please anyone can help me? Thanks.
