● Assuming that any deficiency will be immediately paid, the cash paid to Doods

40,500

● Assuming that any deficiency is uncollectible, the cash paid to Dong?

2,667

● The sale of non-cash assets resulted in a total loss of

65,000

● How much is the cash available for distribution to the partners?

43,000

● The sale resulted in a capital deficiency for

Dino

1. Jurado, Katindig, Lazaro, and Marcelo are partners sharing earnings in the ratio of
3:4:6:8. The balance of their capital accounts on December 31, 2015 are as follows:
Jurado P1,000
Katinding 25,000
Lazaro 25,000
Marcelo 9,000

The partners decide to liquidate, and they accordingly convert the non-cash assets into
P23,200 of cash. After paying the liabilities amounting to P3,000, they have P22,000 to
divide.

● Assume that a debit balance in any of partner’s capital is uncollectible. The share
of Jurado in the loss upon conversion of the non-cash assets into cash was:
5,400

● Assume that a debit balance in any of partner’s capital is uncollectible. The book
value of non-cash assets amounted to:
P61,000

● Assume that a debit balance in any of partner’s capital is uncollectible. When the
P22,200 was divided, Lazaro got
8,320

2. The statement of Financial Position for the partnership of Eclavo, Eclara, and Elorda,
who share profits and losses in the ratio 4:5:1, is as follows:
Cash P100,000 Accounts Payable P300,000
Inventory 720,000 Eclavo, Capital 320,000
Eclara, Capital 90,000
Elorda, Capital 110,000
 P820,000 P820,000

● Assuming Elorda is a limited partner, and the inventory is sold for P360,000, how
much should she receive upon liquidation of the partnership?
74,000