The partnerships asset are P316,800 including cash of P96,300. The partnership is liquidated and Zac receives P49,500 in final settlement.

14. How much is the total loss on realization?

a. P81,000

b. P9,000

c. P45,000

d. P108,000

15. How much was received by Xerath upon liquidation?

a. P71,100

b. P66,600

c. P30,600

d. P48,600

Xerath, Yu Zhong and Zac who divided profits and losses 50%, 30% and 20% respectively, have the following October 31, 2019 account balances: Xerath, drawing (dr) Zac, drawing (Cr) Accounts Payable - Xerath Loans Payable - Yu Zhong Xerath, Capital Yu Zhong, Capital Zac, Capital P 18,000 7,200 10,800 21,600 89,100 66,600 58,500