A.AT Company issued P100, 000,000 of a short term commercial paper during the year 2019 to finance a construction of a plant. At December 31, 2019, the corporation's year -end, AT intends to refinance the commercial paper by issuing a long term debt. However, because the corporation has temporarily has excess cash, in January 2020, it liquidates P30, 000,000 of the commercial paper as the paper matures. In February 2020, AT completes a P180, 000,000 long term debt offering. Later during the month of February, it issues its December 31, 2019 financial statements. The proceeds of the long term debt offering are to be used to replenish P30,000,000 in working capital, to pay P70,000,000 of commercial paper as it matures in March 2020, and to pay P80,000,000 of construction costs expected to be incurred later that year to complete the plant.

Instructions: Please help me to know the solution and explanation.

Requirement #1 How should the P100, 000,000 of commercial paper be classified on the December 31, 2019 , January 31, 2020, and February 28, 2020 balance sheets? Give support for your answer and also consider the cash element.

Requirement #2 What would your answer be, if instead of a refinancing at the date of issuance of the financial statements, a financing agreement existed at that date?

B. The following condensed balance sheet is presented for the partnership of Anders, Barnes, and Crowley, who share profits and losses in the ratio 5:3:2, respectively:

Cash................................................................................................. $60,000

Other assets..................................................................................... 640,000

Total Assets............................................................. $700,000

Liabilities..................................................................... $140,000

Anders, Capital............................................................. 280,000

Barnes, Capital............................................................ 28,000

Crowley, Capital........................................................... 252,000

Total Liabilities and Equity...................................... $700,000

The partners decide to liquidate the partnership.The other assets are sold for $500,000.How should the available cash be distributed?

Please help me to know the solution and explanation.

Answer: c.Anders, $200,000; Barnes, $ -0-; Crowley, $220,000.

C . Please help me to know the solution and explanation.

The following condensed balance sheet is presented for the partnership of D, E, and F who share profits and losses in the ratio of 5:3:2, respectively:

Cash100,000

Other Assets480,000

Total580,000

Liabilities160,000

D, Capital200,000

E, Capital130,000

F, Capital90,000

Total580,000

The partners agreed to liquidate the partnership after selling the other assets.

C.1 If the other assets are sold for $280,000, how much should F receive upon liquidation?

Answer: P50, 000. Just show the solution.

C2. If the other assets are sold for $80,000, and all partners are personally insolvent, how much should E receive upon liquidation?

Answer: P10, 000. Just show the solution.

D. Use the following information for questions 14 to 15:

The balance sheet for the partnership of JJ CC and TT, whose shares of profits and losses are 40, 50, and 10 percent, is as follows:

Cash . . . . . . . . . . . . . . .

P50,000

Accounts Payable. . . . . . . . . . . .

P150,000

Inventory. . . . . . . . . . . .

360,000

JJ, Capital. . . . . . . . . . . . . . . . . . .

160,000

CC, Capital. . . . . . . . . . . . . . . . . .

45,000

__________

TT, Capital. . . . . . . . . . . . . . . . . . . .

55,000

Total Assets . . . . . . . . . .

P410,000

Total Liabilities and Equities. . . . .

P410,000

D1. If the inventory is sold for P300,000, how much should JJ receive upon liquidation of the partnership?

D2. If the inventory is sold 180,000 was sold for P100,000, how much should TT receive upon liquidation of the partnership?

THE PICTURE IS A CLEAR PRESENTATION OF LETTER D QUESTION

D. Use the following information for questions 14 to 15: The balance sheet for the partnership of JJ CC and TT, whose shares of profits and losses are 40, 50, and 10 percent, is as follows: Cash ............... P 50,000 Accounts Payable ............ P 150,000 Inventory ............ 360,000 JJ, Capital ................... 160,000 CC, Capital .................. 45,000 TT, Capital ................... 55 000 Total Assets .......... M0000 Total Liabilities and Equities ..... M0000 Di. If the inventory is sold for P300000", how much should JJ receive upon liquidation of the partnership? D2. If the inventory is sold 180,000 was sold for P100000", how much should TT receive upon liquidation of the partnership