30 Assume that there is only P204,000 in cash and Jenny has a capital deficiency of P12,000. much cash should be distributed to Teeny? a P98,000 b. P101,000 C P95,000 d. P104,000 Loma, Aida and Fe decided to dissolve their partnership on August 31, 2020. They have been dividing profits and losses in the ratio of 4:3:3, respectively and their capital balances as of January 1, 2020 were as follows Loma Aida Fe P75,000 90,000 30,000 The operations of the partnership for the period January 1,2020 to August 31 resulted to net income of P66,000. As of August 31, cash balance is P60,000 and the liabilities are P135,000. 31. The total partnership assets as of August 31, 2020 is a. P396,000 b. P336,000 C. 330,000 d. 261,000 32. sold for For Loma to receive P60,000 in the final settlement of her equity, the non-cash assets must be a. P157,500 b. P232,500 C. P255,000 d. P358,500 33. How much would Aida have received in her final settlement if Lome received P60,000? a. P78,750 b. P55,950 C. P85,500 d. P103,050 34. How much would Fe have recelved in her final settlement if Loma received P60,000? a. P18,750 b. P38,250 C. P24,500 d. PO Ryan, Ivan and Mark are partners sharing profits and losses in the ratio of 1:1:2, respectively. They decided to Iliquidate the business. The assets were sold and liabilities amounting to P20,000 we paid. At this point, the capital balanoes of the partners are as follows:
30 Assume that there is only P204,000 in cash and Jenny has a capital deficiency of P12,000. much cash should be distributed to Teeny? a P98,000 b. P101,000 C P95,000 d. P104,000 Loma, Aida and Fe decided to dissolve their partnership on August 31, 2020. They have been dividing profits and losses in the ratio of 4:3:3, respectively and their capital balances as of January 1, 2020 were as follows Loma Aida Fe P75,000 90,000 30,000 The operations of the partnership for the period January 1,2020 to August 31 resulted to net income of P66,000. As of August 31, cash balance is P60,000 and the liabilities are P135,000. 31. The total partnership assets as of August 31, 2020 is a. P396,000 b. P336,000 C. 330,000 d. 261,000 32. sold for For Loma to receive P60,000 in the final settlement of her equity, the non-cash assets must be a. P157,500 b. P232,500 C. P255,000 d. P358,500 33. How much would Aida have received in her final settlement if Lome received P60,000? a. P78,750 b. P55,950 C. P85,500 d. P103,050 34. How much would Fe have recelved in her final settlement if Loma received P60,000? a. P18,750 b. P38,250 C. P24,500 d. PO Ryan, Ivan and Mark are partners sharing profits and losses in the ratio of 1:1:2, respectively. They decided to Iliquidate the business. The assets were sold and liabilities amounting to P20,000 we paid. At this point, the capital balanoes of the partners are as follows:
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 1EB: The partnership of Michelle, Amal, and Maureen has done well. The three partners have shared profits...
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Transcribed Image Text:much cash should be distributed to Teeny?
Assume that there is only P204,000 in cash and Jenny has a capital deficiency of P12,000. How
much cash should be distributed to Teeny?
30
a. P98,000
b. P101,000
C. P95,000
d. P104,000
Loma, Aida and Fe decided to dissolve their partnership on August 31, 2020. They have been
dividing profits and losses in the ratio of 4:3:3, respectively and their capital balances as of January 1,
2020 were as follows:
Loma
Aida
Fe
P75,000
90,000
30,000
The operations of the partnership for the period January 1,2020 to August 31 resulted to net income
of P66,000. As of August 31, cash balance is P60,000 and the liabilities are P135,000.
31.
The total partnership assets as of August 31, 2020 is
a. P396,000
b. P336,000
C. 330,000
d. 261,000
32. For Loma to receive P60,000 in the final settlement of her equity, the non-cash assets must be
sold for
a. P157,500
b. P232,500
C. P255,000
d. P358,500
33.
How much would Aida have received in her final settlement if Loma received P60,000?
a. P78,750
b. P55,950
C. P85,500
d. P103,050
34.
How much would Fe have receli ved in her final settlement if Loma received P60,000?
a. P18,750
b. Р38,250
C. P24,500
d. PO
Ryan, Ivan and Mark are partners sharing profits and losses in the ratio of 1:1:2, respectively.
They decided to liquidate the business. The assets were sold and liabilities amounting to P20,000 were
paid. At this point, the capital balanoes of the partners are as follows:
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