QUESTION 1: Capital balances of partners after exhausting their non-cash assets are as follows:

A (20%) = (54,000)

U (10%) = 20,000

B (10%) = (66.000)

R (10%) = (12,000)

I (20%) = 35,000

O (10%) = 10,000

N (20%) = (40,000)

Partners R, I, O, and U are personally solvent. How much cash must O contribute to the partnership? (Round-off answer to nearest peso)

A. 22,000

B. 29,000

C. 0

D. 12,000

QUESTION 2:

After a long dispute, Chris, Ann, and No decided to liquidate their partnership. Their total interests as of January 1, 20x4 are Chris (25%) P375.000 Ann (40%) P450,000 Nine (35%) P280,000 Partnership's total assets on this date include P125,000 cash and a receivable from Chris amounting to P25,000 and noncash assets of a certain amount. Total liabilities to outside creditors are P320,000 and the partnership still owes Nine an amount of P20,000. At the end of the liquidation, Ann received P75,000 How much were the noncash assets sold for? P362,500 P312,500 P410,625 P405 625