r partnership is P480,000 including cash of P30,000. Capital balances of the partners were as follows Gerald P150,000; Julia P175,000; Bea P67,500. Unpaid liabilities amounted to P87,500. Assets with a book
1.Gerald, julia and bea are partners who decide to terminate their
What amount must the remaining assets be sold in ordee for Julia to receive P197,500 after liquidation?
2. Alpha, Beta and Gamma are partners who have capital balances of P480,000 ,P500,000 and P180,000 respectively. P/L is distributed in the ratio of 4:2:1. Beta received P260,000 as a result of liquidating the partnership when 60% of the noncash assets of the partnership is realized. The partnership has total assets totaling to P500,000 including P50,000 cash before liquidation. The partnership also incurred P35,000 liquidation expenses and with held P28,000 for the unpaid liabilities of the partnership.
What is the loss on realization of noncash assets?
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