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Can you answer this based on partnership dissolution and liquidation? 1 A, 8, and C formed a partnership to continue for a term of five
Can you answer this based on partnership dissolution and liquidation?
1 A, 8, and C formed a partnership to continue for a term of five (5) years. On the third year, C sold his entire interest to D. e Is the partnership dissolved7 Can D be considered a partnero 24, 8, and C were partners. A informed B that the former was resigning or withdrawing from the partnership e Is the partnership dissolved7 If C has no knowledge of the dissolution and partnership liability is incurred by a contract entered into by C, are A and 8 bound to contribute to the liability? c If C, with knowledge of the dissolution, entered into a contract, will A and 8 be bound to contribute to the liability? 3 T purchased goods from a partnership Thereafter, the partnership was dissolved Notice of the dissolution was advertised in the local newspaper. Without knowledge of the dissolution, T thereafter extended credit to the supposed partnership at the request of one of its members In connection with a transaction not necessary for the liquidation of the business. May T hold the partnership liable on the transaction? A, 8, and C, are partners A contributed P150,000.00, 8 P 100,000 00, and C, P50,000 00. On dissolution, the assets of the partnership amounted to P500,00C00. The partnership owes D the amount of P70,ooo.oo, E, pso,oomoo, and A, P20,ooo a using the above situation, explain how the accounts of the partnership will be settled. Suppose, in the same situation, the liabilities of the partnership amount to PS60,000.0ff how Will the account be settled? How much will the partners contribute, if any? Assume that C is admitted as a new partner into the existing partnership of Aand 8. What happened to the partnership of A and 8? Will C be liable to debts incurred by the old partnership?
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