Badoy, Licayan, and Bargayo

Statement of partnership Liquidation

cash non-cash accounts payable

balance before realization 20,000 122,000 5,000

Realization and lost 10,000 -122,000 0
balance 30,000 5,000
payment of liability -5,000 -5,000
balance 25,000
Right of off-set 0
balance after right of off-set 25,000
defiency by Gulane
absorbed by Badoy and Licayan 0
balance 25,000
payment to Badoy and Licayan -25,000
doy, Licayan, and Bargayo
ent of partnership Liquidation

accounts payable Badoy Loan 40% Badoy, capital 20% Licayan, capital 40% Bargayo, capital

5,000 20,000 24,000 16,000 37,000

0 0 0 -22,400 -44,800
5,000 20,000 24,000 -6,400 -7,800
-5,000 0 0 0 0
20,000 24,000 -6,400 -7,800
4,800 6,400 6,400 0
15,200 17,600 -7,800

5,200 -2,600 7,800

10,000 15,000
-10,000 -15,000