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Cash Non-Cash assets PO 85,000 P 85,000 Total Assets Liabilities Loan payable to Partrer F Loan payable to Partrer G F, Capital (60% in PIL) G, Capital (40% in PL) Total Liabilities and Equity 25,000 11,000 16,000 21,000 12,000 P 85,000 ase # 1: Lump-sum liquidation l the non caen aecete are cold for P53,000. ase # 2: Installment Liquidation he non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as ash becomes available. In the first sale, three-fourths (3/4) of the non-cash assets are sold for P46,000. ase # 3: Installment Liquidation he non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as ash becomes available. In the first sale, 90% of the non-cash assets are sold for P60,000. 1. Under Case # 1: how much is the amount distributable to F? a. P13,800 5. Р12,800 2. Under Case # 1: how much is the amount distributable to G? a. P16,200 . P13,200 3. Under Case # 2: how much is the amount distributable to F after the 1st sale? a. P8,600 5. Р12,400 4. Under Case # 2: how much is the amount distributable to G after the 1st sale? а. Р.,600 o. P12,400 5. Under Case # 3: how much is the amount distributable to F after the 1st sale? a. P17, 000 . Р18,000 3. Under Case # 3: how much is the amount distributable to G after the 1st sale? a. P17, 000 . Р18,000 c. P14,800 d. P15,800 c. P15,200 d. P15,800 c. P21,000 d. P9,600 c. P21,000 d. P9,600 c. P35,000 d. P19,100 c. P35,000 d. P19, 100

Cash Non-Cash assets PO 85,000 P 85,000 Total Assets Liabilities Loan payable to Partrer F Loan payable to Partrer G F, Capital (60% in PIL) G, Capital (40% in PL) Total Liabilities and Equity 25,000 11,000 16,000 21,000 12,000 P 85,000 ase # 1: Lump-sum liquidation l the non caen aecete are cold for P53,000. ase # 2: Installment Liquidation he non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as ash becomes available. In the first sale, three-fourths (3/4) of the non-cash assets are sold for P46,000. ase # 3: Installment Liquidation he non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as ash becomes available. In the first sale, 90% of the non-cash assets are sold for P60,000. 1. Under Case # 1: how much is the amount distributable to F? a. P13,800 5. Р12,800 2. Under Case # 1: how much is the amount distributable to G? a. P16,200 . P13,200 3. Under Case # 2: how much is the amount distributable to F after the 1st sale? a. P8,600 5. Р12,400 4. Under Case # 2: how much is the amount distributable to G after the 1st sale? а. Р.,600 o. P12,400 5. Under Case # 3: how much is the amount distributable to F after the 1st sale? a. P17, 000 . Р18,000 3. Under Case # 3: how much is the amount distributable to G after the 1st sale? a. P17, 000 . Р18,000 c. P14,800 d. P15,800 c. P15,200 d. P15,800 c. P21,000 d. P9,600 c. P21,000 d. P9,600 c. P35,000 d. P19,100 c. P35,000 d. P19, 100

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 17E
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Cash Non-Cash assets PO 85,000 P 85,000 Total Assets Liabilities Loan payable to Partrer F Loan payable lo Partrer G F, Capital (60% in P/L) G, Capital (40% in P/L) Total Liabilities and Equity 25,000 11,000 16,000 21,000 12,000 P 85,000 Case # 1: Lump-sum liquidation All the non-caeh aecete are eold for P53,000. Case # 2: Installment Liquidation The non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as cash becomes available. In the first sale, three-fourths (3/4) of the non-cash assets are sold for P46,000. Case # 3: Installment Liquidation The non-cash assets are sold in installments. Settement of partners' claims shall be made in installments as cash becomes available. In the first sale, 90% of the non-cash assets are sold for P60,000. 1. Under Case # 1: how much is the amount distributable to F? a. P13,800 b. P12,800 c. P14,800 d. P15,800 2. Under Case # 1: how much is the amount distributable to G? c. P15,200 d. P15,800 3. Under Case # 2: how much is the amount distributable to F after the 1st sale? c. P21,000 d. P9,600 а. Р16,200 а. Р8,600 b. P12,400 4. Under Case # 2: how much is the amount distributable to G after the 1st sale? а. Р8,600 b. P12,400 c. P21,000 d. P9,600 5. Under Case # 3: how much is the amount distributable to F after the 1st sale? a. P17, 000 b. P18,000 c. P35,000 d. P19,100 6. Under Case # 3: how much is the amount distributable to G after the 1st sale? а. Р17, 000 b. Р18,000 c. P35,000 d. P19,100
Transcribed Image Text:Cash Non-Cash assets PO 85,000 P 85,000 Total Assets Liabilities Loan payable to Partrer F Loan payable lo Partrer G F, Capital (60% in P/L) G, Capital (40% in P/L) Total Liabilities and Equity 25,000 11,000 16,000 21,000 12,000 P 85,000 Case # 1: Lump-sum liquidation All the non-caeh aecete are eold for P53,000. Case # 2: Installment Liquidation The non-cash assets are sold in installments. Settlement of partners' claims shall be made in installments as cash becomes available. In the first sale, three-fourths (3/4) of the non-cash assets are sold for P46,000. Case # 3: Installment Liquidation The non-cash assets are sold in installments. Settement of partners' claims shall be made in installments as cash becomes available. In the first sale, 90% of the non-cash assets are sold for P60,000. 1. Under Case # 1: how much is the amount distributable to F? a. P13,800 b. P12,800 c. P14,800 d. P15,800 2. Under Case # 1: how much is the amount distributable to G? c. P15,200 d. P15,800 3. Under Case # 2: how much is the amount distributable to F after the 1st sale? c. P21,000 d. P9,600 а. Р16,200 а. Р8,600 b. P12,400 4. Under Case # 2: how much is the amount distributable to G after the 1st sale? а. Р8,600 b. P12,400 c. P21,000 d. P9,600 5. Under Case # 3: how much is the amount distributable to F after the 1st sale? a. P17, 000 b. P18,000 c. P35,000 d. P19,100 6. Under Case # 3: how much is the amount distributable to G after the 1st sale? а. Р17, 000 b. Р18,000 c. P35,000 d. P19,100
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