The partnership of A, B and C ended its operations and is now in the process of liquidation. All assets except some pieces of equipment have been sold. The general ledger balances are as follows: Cash Equipment, net B, Loan Accounts Payable A, Capital (30%) B, Capital (50%) Debit Credit 250,000 800,000 5,000 195,000 300,000 350,000 200,000 C, Capital (20%) The equipment was sold at 10% of its carrying value. Any capital deficiency is made good by the deficient partner. Q1 Q2 Q3 Q4 Q5 Q7 Q8 How much is the gain or (loss) on realization? Indicate whether gain or (loss). What are the capital balances of A, B and C, respectively immediately after the realization of non-cash assets and the distribution of gain or loss on realization? How much cash must B contribute to eliminate his capital deficiency or the debit balance in his capital account? How much is the total cash settlement to the partners? How much did B receive in full settlement of his equity or interest (inclusive of the loan). For how much should the equipment be sold for B tor receive P85,000 in cash inclusive of his loan? For the partners to receive total cash payment of P290,000 exclusive of the loan to B, for how much should the equipment be sold?