Andres, Tomas and Moises are partners of ATM partnership. They decided to liquidate on March 31 of the current year. On this date, they have non- cash assets of P530,000 and liabilities of P250, 000, including loan payable to Moises of P50,000. Andres, Tomas and Moises have capital balances of P80,000, P130,000 and P90,000, respectively. Profits and loss are shared 3:3:4 for Andres, Tomas and Moises. All partners are solvent.

• what is the total loss on realization if Moises received P25,000 in final settlement.

Partners A, B and C have capital balances of P 300,000, P 400,000 and P 500,000 , respectively before liquidation and they share in the profits/ losses equally. The partnership has a loan payable to A of P 15,000. The non-cash assets has a book value of P 1, 100,000.Ana, Beth and Carla are partners in ABC Partnership. On August 1 ,2020, Darla and Ella were admitted to the partnership by contributing cash of 50,000 each so that each will have 15% interest in the partnership as well as in the share in the profits and losses. From January 1, 2020 to August 1,2020 the partnership business incurred a net profit of P 25,000. This net profit was not yet closed to the capital accounts as of August 1,2019. At the time of admission of the new partners, all the assets of the partnership are fairly valued. The partner's capital balance as of August 1,2019 before admission with their profit or loss ratio are as follows: A, Capital - 250,000 (20%) B, Capital - 300,000( 50%) C, Capital - 275,000( 30%) The partner's will retain their profit and loss ratio even after admission of Darla and Ella