Problem 1

A, B and C are partners in ABC Partnership. On December 31, 2022, B decides to withdraw all her investment in the
partnership. The balances of the account are as follows:

Cash 550,000.00
Non- Cash Asset 150,000.00
Liabilities 100,000.00
A, Capital 200,000.00
B, Capital 200,000.00
C, Capital 200,000.00

Assets were revalued at 450,000.00.

Miss B sold its interest for P200,000.00.

Requirements: ( Answer must be handwritten)

1. Prepare a schedule on the computation of the ending balance of the capital of the partnership after
considering the revaluation of asset and payment of Miss B interest.

Problem 2
A, B and C are partners in ABC Partnership. On December 31, 2022, B decides to withdraw all her investment in the
partnership. The balances of the account are as follows:

Cash 550,000.00
Non- Cash Asset 150,000.00
Liabilities 100,000.00
A, Capital 200,000.00
B, Capital 200,000.00
C, Capital 200,000.00

2. If Mr. D decides to invest as a new partner amounting to 200,000.00, compute for the new Capital
Balance and Profit and Loss Sharing

Problem 3
A, B and C are partners in ABC Partnership. On December 31, 2022, B decides to withdraw all her investment in the
partnership. The balances of the account are as follows:

Cash 550,000.00
Non- Cash Asset 150,000.00
Liabilities 100,000.00
A, Capital 200,000.00
B, Capital 200,000.00
C, Capital 200,000.00

Collection of Receivable amounting to 50,000.00

Sale of noncash asset of 100,000.00 for 120,000.00
Payment of Liabilities amounting to 100,000.00

3. Prepare Partnership Liquidation Report.