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Question 2 of 3 Fill in the blanks: The partnership of Kapos, Kulang and Kasia was affected by the pandemic so the partners have
Question 2 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, 2019 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 The partners share P/L in the ratio of 5:3:2, respectively. Non-cash assets were sold for P1,000,000. All partners are solvent. Answer the following: 1 Gain/(Loss) on realization 2 Gain/(Loss) absorbed by Kapos 3 Gain/(Loss) absorbed by Kulang 4 Gain/(Loss) absorbed by Kasia 5 6 Capital balance of Kapos after sale of NCA Capital balance of Kulang after sale of NCA 7 Additional investment by Kapos 8 Final settlement to Kapos 9 Final settlement to Kulang 10 Final settlement to Kasia Customize and control Google Chrome 10 Points
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