1) The following condensed Balance Sheet was prepared for Bi, Na, Ta partnership on March 31,200B: Cash P 30,000 Liabilities P 60,000 Other Assets P 190,000 Bi, Capital P 44,000 Na, Capital P 66,000 Ta, Capital P 50,000 P 220,000 P 220,000 The other assets were sold for P50,000. Profits are shared 4;4;2, for Bi, Na, and Ta, respectively. Bi is insolvent . The amount of cash received by Na was:
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1) The following condensed Balance Sheet was prepared for Bi, Na, Ta
| Cash | P 30,000 | Liabilities | P 60,000 |
| Other Assets | P 190,000 | Bi, Capital | P 44,000 |
| Na, Capital | P 66,000 | ||
| Ta, Capital | P 50,000 | ||
| P 220,000 | P 220,000 |
The other assets were sold for P50,000. Profits are shared 4;4;2, for Bi, Na, and Ta, respectively. Bi is insolvent .
The amount of cash received by Na was:
2) After the realization of non-cash assets, the following account balances appeared in the genera ledger of the partnership of See, Chap, and Pooh. Cash P 10,000
Liabilities 30,000
Pooh,Loan 5,000
See,Capital 15,000
Chap,Capital 10,000
Pooh,Capital 10,000
Profits are shared 2:4:4 for See, Chapand Pooh, respectively. Pooh is insolvent. How much was the loss on realization?
3) After realization of the assets and payment of liabilities , the following are the capital balances of the partners Mona , Nona , and Ona :
| Capital | P/L ratio | |
| Mona | P 20,000 | 20% |
| Nona | 10,000 | 30% |
| Ona | 5,000 | 50% |
| P 35,000 | 100% |
At this point , the cash available for distribution was P18,00 . Any capital deficiency is uncollectible , What was the loss on realization?
4) On August 31 , 2005 Apple , Pole , and Ole decided to liquidate their partnership . Their capital accounts and profit sharing ratios are as follows :
| Capital | P/L ratio | |
| Apple | P150,000 | 50% |
| Pole | 255,000 | 30% |
| Ole | 135,000 | 20% |
On this date , there were liabilities of P187,500 still unpaid and the cash balance was zero Apple is Insolvent .
If Ole received a total of P22,500 , Pole would have received:
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