Kindly answer the 1-5 problems. Thank you. I badly need it. 3. For Das to obtain a 1/3 interest in the partnership, how much must hiscash investment be?Adee admitted Das as a partner in a business. The balance sheet of Adee on July 30, 2019 before theadmission of Das shows:Cash31,200Receivables144,000Inventory216,000Accounts Payable74,400Adee, CapitalIn order to establish Das Interest, the partners agreed on the following316,800An allowance of doubtful accounts of 2% is to be establishedMerchandise Inventory is to be valued at P242,400Prepaid Expenses of P4,200 and accrued expenses of P4,800 are to be recognized4. How much is the capital of Adee upon partnership formation?Adee admitted Das as a partner in a business. The balance sheet of Adee on July 30, 2019 before theadmission of Das shows:Cash31,200Receivables144,000Inventory216,000Accounts Payable74,400Adee, CapitalIn order to establish Das Interest, the partners agreed on the following316,800An allowance of doubtful accounts of 2% is to be establishedMerchandise Inventory is to be valued at P242,400Prepaid Expenses of P4,200 and accrued expenses of P4,800 are to be recognized5. Partners X, Y and Z have capital balances capital balances in apartnership of P140,000, P60,000 and P1,800,000. The operations for theyear resulted in a loss of P240,000. What will be the capital balance of Yif the three partners share in the profits of the partnership in the ratio of2:2:6? (POSITIVE FOR CREDIT BALANCE and NEGATIVE () or "-" FORDEBIT BALANCE) * 1. The capital balances of C, P and A respectively are: (Use this formatC, P and A are sole proprietors looking to form a new partnership. Cis to contribute cash of P150,000and his delivery vehicle originally bought at P160,000 but has a second-hand value of P100,000. P is tocontribute cash amounting to P200,000 and furniture worth P40,000 but was only acquired by P for P36,000.Partner A, whose family business is to sell computers contributed cash of P80,000 and computers and printerswith a regular price of P160,000 but with a cost of P140,000. CPA Partnership stipulates their P and L ratio tobe 3:2:3.2. How much cash must be contributed by each of the partners afterthey contributed their properties (Use this format without the quotationmarks: "100000; 25000") *Gerald and Julia are joining their separate businesses to form a partnership and they agreed to share profits inthe manner of 55% for Gerald and 45% for Julia. Property is to be contributed for a total capital of P800,000.Thepartners agreed to make their capital accounts equal after formation.GeraldBook Value Fair ValueAccounts Receivable60,00060,000Inventories60,00090,000EquipmentAccounts Payable100,00080,00030,00030,000JuliaBook Value Fair ValueAccounts ReceivableInventories160,000180,000EquipmentAccounts Payable180,00020,000190,00020,000

Question

Kindly answer the 1-5 problems. Thank you. I badly need it. 3. For Das to obtain a 1/3 interest in the partnership, how much must hiscash investment be?Adee admitted Das as a partner in a business. The balance sheet of Adee on July 30, 2019 before theadmission of Das shows:Cash31,200Receivables144,000Inventory216,000Accounts Payable74,400Adee, CapitalIn order to establish Das Interest, the partners agreed on the following316,800An allowance of doubtful accounts of 2% is to be establishedMerchandise Inventory is to be valued at P242,400Prepaid Expenses of P4,200 and accrued expenses of P4,800 are to be recognized4. How much is the capital of Adee upon partnership formation?Adee admitted Das as a partner in a business. The balance sheet of Adee on July 30, 2019 before theadmission of Das shows:Cash31,200Receivables144,000Inventory216,000Accounts Payable74,400Adee, CapitalIn order to establish Das Interest, the partners agreed on the following316,800An allowance of doubtful accounts of 2% is to be establishedMerchandise Inventory is to be valued at P242,400Prepaid Expenses of P4,200 and accrued expenses of P4,800 are to be recognized5. Partners X, Y and Z have capital balances capital balances in apartnership of P140,000, P60,000 and P1,800,000. The operations for theyear resulted in a loss of P240,000. What will be the capital balance of Yif the three partners share in the profits of the partnership in the ratio of2:2:6? (POSITIVE FOR CREDIT BALANCE and NEGATIVE () or &#34;-&#34; FORDEBIT BALANCE) * 1. The capital balances of C, P and A respectively are: (Use this formatC, P and A are sole proprietors looking to form a new partnership. Cis to contribute cash of P150,000and his delivery vehicle originally bought at P160,000 but has a second-hand value of P100,000. P is tocontribute cash amounting to P200,000 and furniture worth P40,000 but was only acquired by P for P36,000.Partner A, whose family business is to sell computers contributed cash of P80,000 and computers and printerswith a regular price of P160,000 but with a cost of P140,000. CPA Partnership stipulates their P and L ratio tobe 3:2:3.2. How much cash must be contributed by each of the partners afterthey contributed their properties (Use this format without the quotationmarks: &#34;100000; 25000&#34;) *Gerald and Julia are joining their separate businesses to form a partnership and they agreed to share profits inthe manner of 55% for Gerald and 45% for Julia. Property is to be contributed for a total capital of P800,000.Thepartners agreed to make their capital accounts equal after formation.GeraldBook Value Fair ValueAccounts Receivable60,00060,000Inventories60,00090,000EquipmentAccounts Payable100,00080,00030,00030,000JuliaBook Value Fair ValueAccounts ReceivableInventories160,000180,000EquipmentAccounts Payable180,00020,000190,00020,000

Accepted Answer

Partnership means where two or more person comes together to do some common business activity and…