Q9 through Q13. From the records of the DTA Partnership, answer question 17 to 21.

Assets

Cash

Other Non-Cash Assets Total

Liabilities and Capital Liabilities

De Mesa, Loan

De Mesa, Capital Tudtud, Capital Apostol, Capital Total

DTA Partnership Statement of Financial Position December 31, 2015

2,000 28,000 30,000

5,000

2,500 12,500 7,000 3,000 30,000

Profit and loss ratio is 3:2:1 for De Mesa, Tudtud and Apostol, respectively. Cash is distributed as assets are realized. Other assets were realized as follows:

Date

January 2015 February 2015 March 2015

Cash Received

6,000

3,500 12,500

Book Value

9,000

7,700 11,300

2

Q9. The total loss to De Mesa is:

a. 3,000

b. 2,000

c. 1,000

d. 0

Q10. Total cash received by Tudtud is:

a. 2,000

b. 1,500

c. 5,000

d. 0

Q11. Cash received by Apostol in January is:

a. 200

b. 1,000

c. 500

d. 0

Q12. The most vulnerable partner is:

a. De Mesa

b. Tudtud

c. Apostol

d. none

Q13. Total loss on realization of non-cash assets is:

a. 6,000

b. 3,000

c. 4,200

d. 1,200