BASED ON THE CORRECT ANSWER GIVEN, PROVIDE THE CORRESPONDING SOLUTION FOR NUMBER 21-23

21. Basty, Angel, and Zoe are partners sharing profits equally. On January 1, 2022, the capital and drawing accountsgof the partners are: Capital Drawings m 60,000 36,000 Angel 48,000 24,000 Zoe 130,000 12,000 Due to the failure of the firm's debtors to settle their accounts. The partners lose heavily and are therefore compelled to liquidate. After exhausting all the partnership assets, including those arising from the profit of P41,400 in 2020, there still remain P50,400 liabilities on December 31, 2022, 03% has no personal assets but the others are well off. The loss on realization is: Ans: 307,800 22. Use the information in No. 2.1 How much should Zoe receive? Ans: 46,800 23. The following information is related to Gutierrez Corporation, which is undergoing liquidation: Bonds payable amounting to P73,600 is secured by Merchandise Inventory with book value of P123,000 and net realizable value of 2/3 of the recorded amount. of the P195,600 accounts payable, P55,000 is secured by equipment with a carrying amount of P76,800 which is 70% realizable. Building with a carrying amount of P129,000 has a net realizable value of P99,000. Other unrecorded liabilities are accrued interest payable on bonds, P3,100; salaries payable, P17,400; taxes payable, P11,600; and trustee's fee, P8,500. Cash available prior to liquidation amounts to P11,900. Total assets of Gutierrez Corp. presented in the statement of financial position prior to liquidation amounts to P480,000, except for prepaid expenses and goodwill amounting to P7,6OO and P22,000, respectively, remaining assets other those whose realizable values were mentioned above have a realizable value of 60% of the recorded amount. Total liabilities of Gutierrez Corp. presented in the statement of financial position prior to liquidation amounts to P380,000. Compute for the estimated deficiency to unsecured liabilities. Ans: 108,120