1.On June 11, 2013. Moly. Nora, and Olga form a partnership investing cash of P15,000, P13,500, and P4 200 respectively. The partners share profits 3:2:2 and on August 30, 2013, they have cash of P1,000, and other assets of P47,500; liabilities are P25,600. On this date they decide to go out of business and sell all the assets for P30,000. Olga has personal assets of P1,500 that may, if necessary, be used to meet partnership obligations. How much should be distributed to Nora upon liquidation of the partnership?

2. Filipino Co. has been forced into bankruptcy and liquidated. Unsecured claims will be paid at the rate of P0.50 on the peso. Gold Co. holds a non-interest bearing note receivable from Filipino Co. in the amount of P50,000, collateralize by machinery with a liquidation value ofP10,000. The total amount to be realized by Gold on this note receivable is:

3.On August 20, 2030, T, U and V form a partnership investing cash of P105,000; P94,500 and P29,400, respectively. The partners share profits 3:2:2 and on November 30, 2030, they have cash of P7,000, and other assets of P332,500; liabilities are P1 79,200. On this date they decided to go out of business and sell all the assets for P210,000. V has personal assets of P10,500 that may, if necessary be used to meet partnership obligations.What is the amount received by partner U at the end of liquidation?