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Question 1 of 3 Fill in the blanks: The partnership of Kapos, Kulang and Kasia was affected by the pandemic so the partners have
Question 1 of 3 Fill in the blanks: The partnership of Kapos, Kulang and Kasia was affected by the pandemic so the partners have decided to liquidate on December 31, 2020 and gave you the following balances: Cash 100,000 Outside Creditors 890,000 Non-Cash Assets 1,400,000 Loan due to Kapos 10,000 Kapos Capital 90,000 Kulang, Capital 190,000 Kasia, Capital 320,000 10 Points The partners share P/L in the ratio of 5:3:2, respectively. Non-cash assets were sold for P900,000. Kapos is a limited partner while Kulang and Kasia are general partners. The personal assets and liabilities of partners are as follow: Assets Liabilities 150,000.00 Kapos 300,000 Kulang 150,000 110,000.00 Kasia 200,000 150,000.00 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 Customize and control Google Chrome 5 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
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