On Jan 10, 2023, partners Kong, Nang and Dee of KND Partnership decided to terminate the operation of their business because of the huge amount of loss incurred in 2022. The business was heavily affec the pandemic due to Covid-19. Kong, Nang and Dee share profits and losses in the ratio 4.3.3, respectively. All partners are personally solvent, and Nang is a limited partner. The Statement of Financial Posit KND Partnership as of December 31, 2022 follows: Liabilities & Partners' Equity Assets: Cash 256,000 Accounts Payable 900,000 Accounts Receivable 60,000 Due to T. Nang 30,000 Allow. For Bad Debts (6,000) Due to C. Dee 20,000 Due from F. Kong 20,000 F Kong, Capital 140,000 Equipment 1,200,000 T Nang, Capital 101,200 Accumulated Depreciation, Equipment (200,000) C. Dee 138,800 Total Assets Total Liabilities & Partner's Equity 1,330,000 1,330,000 The customers accounts are no longer collectible, and the equipment were sold at a loss of P400,000. The loss on realization of assets charged to Kong, Nang and Dee, respectively are Select the correct response P181,600 P136,200 P136,200 P184,000 P138,000 P138,000 T P261,600 P196,200 P196,200 2 1 Poi On Jan 10, 2023, partners Kong, Nang and Dee of KND Partnership decided to terminate the operation of their business because of the huge amount of loss incurred in 2022. The business was heavily affected by the pandemic due to Covid-19. Kong, Nang and Dee share profits and losses in the ratio 4.33, respectively. All partners are personally solvent, and Nang is a limited partner. The Statement of Financial Position of KND Partnership as of December 31, 2022 follows: Assets: Liabilities & Partners Equity Cash 256,000 Accounts Payable 900,000 Accounts Receivable 60,000 Due to T. Nang 30.000 Allow. For Bad Debts Due to C. Dee (6,000) 20,000 Due from F. Kong 20,000 F. Kong, Capital 140,000 Equipment T. Nang, Capital 101,200 1,200,000 Accumulated Depreciation, Equipment C. Dee (200,000) 138,800 Total Assets Total Liabilities & Partner's Equity 1,330,000 1,330,000 The customers' accounts are no longer collectible, and the equipment were sold at a loss of P400,000. The liabilities to outside creditors were paid in full, using all cash available and contribution of Kong from his personal savings account Absorption of losses from realization of non-cash assets resulted to Select the correct response Deficiency only in Kong, Capital Deficiency in capital of all partners Deficiency in Kong, Capital and Dee, Capital Deficiency in Kong, Capital and Nang, Capital