Miranda, Leon, and Estoque

Statement of Liquidation
March 31, 20x1
Cash Non-cash assets Liabilities Miranda, Capital Leon, Capital Estoque, Capital
Balances before Liquidation ₱150,000 ₱2,600,000 ₱750,000 ₱400,000 ₱600,000 ₱1,000,000
Sale of non-cash assets and Distribution losses ₱2,150,000 (₱2,600,000) (₱150,000) (₱150,000) (₱150,000)
Balances ₱2,300,000 ₱750,000 ₱250,000 ₱450,000 ₱850,000
Payment of liabilities (₱750,000) (₱750,000)
Balances ₱1,550,000 ₱250,000 ₱450,000 ₱850,000
Payments to partners (₱1,550,000) (₱250,000) (₱450,000) (₱850,000)