Cash Non-Cash assets PO 85,000 P 85,000 Total Assets Liabilities Loan payable to Partrer F Loan payable to Partrer G F, Capital (60% in PIL) G, Capital (40% in PL) Total Liabilities and Equity 25,000 11,000 16,000 21,000 12,000 P 85,000 ase # 1: Lump-sum liquidation l the non caen aecete are cold for P53,000. ase # 2: Installment Liquidation he non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as ash becomes available. In the first sale, three-fourths (3/4) of the non-cash assets are sold for P46,000. ase # 3: Installment Liquidation he non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as ash becomes available. In the first sale, 90% of the non-cash assets are sold for P60,000. 1. Under Case # 1: how much is the amount distributable to F? a. P13,800 5. Р12,800 2. Under Case # 1: how much is the amount distributable to G? a. P16,200 . P13,200 3. Under Case # 2: how much is the amount distributable to F after the 1st sale? a. P8,600 5. Р12,400 4. Under Case # 2: how much is the amount distributable to G after the 1st sale? а. Р.,600 o. P12,400 5. Under Case # 3: how much is the amount distributable to F after the 1st sale? a. P17, 000 . Р18,000 3. Under Case # 3: how much is the amount distributable to G after the 1st sale? a. P17, 000 . Р18,000 c. P14,800 d. P15,800 c. P15,200 d. P15,800 c. P21,000 d. P9,600 c. P21,000 d. P9,600 c. P35,000 d. P19,100 c. P35,000 d. P19, 100
Cash Non-Cash assets PO 85,000 P 85,000 Total Assets Liabilities Loan payable to Partrer F Loan payable to Partrer G F, Capital (60% in PIL) G, Capital (40% in PL) Total Liabilities and Equity 25,000 11,000 16,000 21,000 12,000 P 85,000 ase # 1: Lump-sum liquidation l the non caen aecete are cold for P53,000. ase # 2: Installment Liquidation he non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as ash becomes available. In the first sale, three-fourths (3/4) of the non-cash assets are sold for P46,000. ase # 3: Installment Liquidation he non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as ash becomes available. In the first sale, 90% of the non-cash assets are sold for P60,000. 1. Under Case # 1: how much is the amount distributable to F? a. P13,800 5. Р12,800 2. Under Case # 1: how much is the amount distributable to G? a. P16,200 . P13,200 3. Under Case # 2: how much is the amount distributable to F after the 1st sale? a. P8,600 5. Р12,400 4. Under Case # 2: how much is the amount distributable to G after the 1st sale? а. Р.,600 o. P12,400 5. Under Case # 3: how much is the amount distributable to F after the 1st sale? a. P17, 000 . Р18,000 3. Under Case # 3: how much is the amount distributable to G after the 1st sale? a. P17, 000 . Р18,000 c. P14,800 d. P15,800 c. P15,200 d. P15,800 c. P21,000 d. P9,600 c. P21,000 d. P9,600 c. P35,000 d. P19,100 c. P35,000 d. P19, 100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Cash
Non-Cash assets
PO
85,000
P 85,000
Total Assets
Liabilities
Loan payable to Partrer F
Loan payable lo Partrer G
F, Capital (60% in P/L)
G, Capital (40% in P/L)
Total Liabilities and Equity
25,000
11,000
16,000
21,000
12,000
P 85,000
Case # 1: Lump-sum liquidation
All the non-caeh aecete are eold for P53,000.
Case # 2: Installment Liquidation
The non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as
cash becomes available. In the first sale, three-fourths (3/4) of the non-cash assets are sold for P46,000.
Case # 3: Installment Liquidation
The non-cash assets are sold in installments. Settement of partners' claims shall be made in installments as
cash becomes available. In the first sale, 90% of the non-cash assets are sold for P60,000.
1. Under Case # 1: how much is the amount distributable to F?
a. P13,800
b. P12,800
c. P14,800
d. P15,800
2. Under Case # 1: how much is the amount distributable to G?
c. P15,200
d. P15,800
3. Under Case # 2: how much is the amount distributable to F after the 1st sale?
c. P21,000
d. P9,600
а. Р16,200
а. Р8,600
b. P12,400
4. Under Case # 2: how much is the amount distributable to G after the 1st sale?
а. Р8,600
b. P12,400
c. P21,000
d. P9,600
5. Under Case # 3: how much is the amount distributable to F after the 1st sale?
a. P17, 000
b. P18,000
c. P35,000
d. P19,100
6. Under Case # 3: how much is the amount distributable to G after the 1st sale?
а. Р17, 000
b. Р18,000
c. P35,000
d. P19,100
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