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The liquidation of the partnership of Kiko, Leni and Bong resulted in a deficiency in Kiko's capital account of P100,000. Kiko can only contribute P20,000
The liquidation of the partnership of Kiko, Leni and Bong resulted in a deficiency in Kiko's capital account of P100,000. Kiko can only contribute P20,000 to offset his deficiency. The partners share profits and losses in the ratio of 3:3:2. Leni and Bong, who have capital balances of P250,000 and P50,000, will absorb the deficiency as follows:
a.) Leni - P 0; Bong - P 0
b.) Leni - P40,000; Bong - P40,000
c.) Leni - P32,000; Bong - P 48,000
d.) Leni - P48,000, Bong - P32,000
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