Scribd Logo
Upload

Welcome to Scribd!

  • Results for Exercises 5-1 through 5-5 on True/False and Multiple Choice Questions

    Uploaded by

    Jose Guerrero
    724 views4 pages
    The document contains the solutions to 5 exercises involving profit and loss ratios and the distribution of assets and liabilities for various entities. Exercise 5-1 contains 10 true/false questions. Exercise 5-2 contains 10 multiple choice questions with answers A-D. Exercise 5-3 involves calculating profit/loss ratios and distributing cash, assets and liabilities across 4 entities. Exercise 4 involves distributing proceeds from an equipment sale across 3 entities based on their profit ratios. Exercise 5 involves calculating losses based in profit ratios, paying liabilities, and distributing remaining cash across 4 entities.

    Original Description:

    Original Title

    ACCCOB1 Chapter 5 Worktext Solution Exercise 5-1 and 5-2 Theory 5-3 to 5-5 (1).pdf

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document contains the solutions to 5 exercises involving profit and loss ratios and the distribution of assets and liabilities for various entities. Exercise 5-1 contains 10 true/false questions. Exercise 5-2 contains 10 multiple choice questions with answers A-D. Exercise 5-3 involves calculating profit/loss ratios and distributing cash, assets and liabilities across 4 entities. Exercise 4 involves distributing proceeds from an equipment sale across 3 entities based on their profit ratios. Exercise 5 involves calculating losses based in profit ratios, paying liabilities, and distributing remaining cash across 4 entities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    724 views4 pages

    Results for Exercises 5-1 through 5-5 on True/False and Multiple Choice Questions

    Uploaded by

    Jose Guerrero
    The document contains the solutions to 5 exercises involving profit and loss ratios and the distribution of assets and liabilities for various entities. Exercise 5-1 contains 10 true/false questions. Exercise 5-2 contains 10 multiple choice questions with answers A-D. Exercise 5-3 involves calculating profit/loss ratios and distributing cash, assets and liabilities across 4 entities. Exercise 4 involves distributing proceeds from an equipment sale across 3 entities based on their profit ratios. Exercise 5 involves calculating losses based in profit ratios, paying liabilities, and distributing remaining cash across 4 entities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    Exercise 5-1

    1. TRUE
    2. TRUE
    3. FALSE
    4. TRUE
    5. FALSE
    6. TRUE
    7. TRUE
    8. TRUE
    9. FALSE
    10. TRUE

    Exercise 5-2
    1. C
    2. D
    3. B
    4. B
    5. C
    6. A
    7. A
    8. B
    9. D
    10. B
    Ex 5-3
    gain on
    Cash other assets Liabilities Lito Nomi Will Total Realization
    4 3 3 10
    P&L Ratios 40.00% 30.00% 30.00% 100.00%
    balances 160,000 320,000 180,000 48,000 216,000 36,000 -
    realization 420,000 (320,000) 40,000 30,000 30,000 100,000
    balances 580,000 - 180,000 88,000 246,000 66,000
    payment of liabilities (180,000) (180,000)
    balances 400,000 - - 88,000 246,000 66,000
    final cash distribution (400,000) (88,000) (246,000) (66,000)
    balances - - - - - -
    Ex 5-4
    gain on
    Equipment Lily Monte Nathan Total Realization
    P&L Ratio 55% 20% 25% 100%
    balances 7,000 108,000 62,000 56,000
    realization 10,000 (7,000) 600 3,000
    62,600
    Ex 5-5
    solvent
    loss on
    cash Assets Liabilities Dindin Laura Estarossa Truman Total Realization
    P&L Ratio 40% 20% 20% 20% 100%
    balances 0 360,000 120,000 60,000 67,000 17,000 96,000 -
    realization 228,000 (360,000) (52,800) (26,400) (26,400) (26,400) (132,000)
    balances 228,000 - 120,000 7,200 40,600 (9,400) 69,600
    payment of liabilities (120,000) (120,000)
    balances 108,000 - - 7,200 40,600 (9,400) 69,600
    absorption of deficiency (4,700) (2,350) 9,400 (2,350)
    balances 108,000 - - 2,500 38,250 - 67,250
    Final cash distribution (108,000) (2,500) (38,250) (67,250)
    balances - - - - - - -

    You might also like