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please show solution. thank you The partnership of Kapos, Kulang and Kasia was affected by the pandemic so the partners have decided to liquidate on
please show solution. thank you
The partnership of Kapos, Kulang and Kasia was affected by the pandemic so the partners have decided to liquidate on December 31, 2019 and gave you the following balances 890,000 Cash 100,000 Outside Creditors Non-Cash Assets 1,400,000 Loan due to Kapos Kapos Capital Kulang, Capital Kasia, Capital 10,000 90,000 190,000 320,000 The partners share P/L in the ratio of 53.2, respectively. Non-cash assets were sold for P800,000 Kulang is a limited partner. The personal assets and liabilities of partners are as follow Assets Liabilities 300,000 150,000.00 Kulang 150,000 110,000.00 Kasia 200,000 150,000.00 Kapos Answer the following: 1 Gain/(Loss) absorbed by Kapos 2 Gain/(Loss) absorbed by Kulang 3 Gain/(Loss) absorbed by Kasia 4 Capital balance of Kapos after sale of NCA LO Capital balance of Kulang after sale of NCA 6 Additional investment by Kapos 7 Additional investment by Kulang 8 Final settlement to Kapos 9 Final settlement to Kulang 10 Final settlement to Kasia Step by Step Solution
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