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1. The statement of realization and liquidation has been prepared for AMD Corporation for the three- month period ending December 31, 2014. The totals are as follows: Assets to be realized #55,000.00 Assets acquired #60,000.00 Assets realized #70,000.00 Assets not realized #25,000.00 Liabilities to be liquidated P90,000.00 Liabilities assumed #30,000.00 Liabilities liquidated #60,000.00 Liabilities not liquidated #75,000.00 Supplementary credits #85,000.00 Supplementary charges #78,000.00 The net income (loss) for the period should be: a. $7,000 b. P(35,000) C. # [28,000) d. #28,000 2. A statement of realization and liquidation has been prepared for the AMD Corporation. The totals are as follows Assets to be realized #60,000.00 Assets acquired #40,000.00 Assets realized #55,000.00 Liabilities to be liquidated #80,000.00 Liabilities assumed #50,000.00 Liabilities not liquidated #65,000.00 Supplementary credits #110,000.00 Retained earnings decreased by P12,000. The ending balances of capital stock and retained earnings are $100,000 and (#85,000), respectively. How much was the beginning balance of cash? a. # 47,000 b. #35,000 C. #20,000 d. Not given 3. AMD signed a note payable to its bank for $10,000. Accrued interest on the note on February 28, 2014 amounted to #250. The note was secured by inventory with a book value of #12,000. The inventory was sold for #8,000 and unsecured creditors received 30%% of their claims. The bank should receive the following amount in settlement of the note and interest: a. P10,250 b. #10,000 C. P8,675 d. #8,000