Water and electronics generally do not make happy bedfellows. Your iPad is not designed to be water resistant. While it will survive being splashed with clean water if immediately dried, it will almost certainly suffer irreparable damage if it is allowed to get wet, or is submerged for any length of time.
Beverages, in particular those that contain animal fat (e.g., milk) or sugar, can cause significant damage if they penetrate the iPad.
If the worst should happen, speed is essential. If the iPad gets wet, it should be immediately dried with an absorbent towel - then set aside in a warm, dry location to throughly dry. The iPad should be turned-off - and no attempt made to turn-on, use, or charge the iPad until you are absolutely certain that the iPad has fully dried out. Pay particular attention to the charging port.
If the iPad is not operating as expected after becoming wet, it is almost certainly damaged beyond repair. You might consider visiting the Genius Bar at your local Apple Store or Apple Authorised Service Provider (AASP) where the technicians will be able to test and assess your iPad - and you can explore your available options:
Genius Bar Reservation and Apple Support Options - Apple