ASSETS Cash Non-cash Assets Total Assets 40,000 360,000 400,000 LIABILITIES AND CAPITAL Liabilities Carla, Loan Anita, Capital Banana, Capital Carla, Capital Total Liabilities and Capital 140,000 20,000 140,000 80,000 20,000 400,000 Anita, Banana and Carla share profits and losses in the ratio of 5:3:2, respectively. Instruction: Prepare liquidation statements and journal entries to record the liquidation under each of the following independent cases. Case 4 Other assets are sold for P104,000. The personal assets and liabilities of the partners are as follows: Personal Personal Assets Liabilities Anita 200,000 160,000 Banana 100,000 90,000 Carla 60,000 50,000 Case 5 Other assets are sold for P104,000. The personal assets and liabilities of the partners are as follows: Personal Personal Assets Liabilities Anita 160,000 130,000 Banana 80,000 84,000 Carla 60,000 70,000 ASSETS Cash Non-cash Assets Total Assets 40,000 360,000 400,000 LIABILITIES AND CAPITAL Liabilities Carla, Loan Anita, Capital Banana, Capital Carla, Capital Total Liabilities and Capital 140,000 20,000 140,000 80,000 20,000 400,000 Anita, Banana and Carla share profits and losses in the ratio of 5:3:2, respectively. Instruction: Prepare liquidation statements and journal entries to record the liquidation under each of the following independent cases. Case 4 Other assets are sold for P104,000. The personal assets and liabilities of the partners are as follows: Personal Personal Assets Liabilities Anita 200,000 160,000 Banana 100,000 90,000 Carla 60,000 50,000 Case 5 Other assets are sold for P104,000. The personal assets and liabilities of the partners are as follows: Personal Personal Assets Liabilities Anita 160,000 130,000 Banana 80,000 84,000 Carla 60,000 70,000