with computation sheet in excel

Problem: The following statement of financial position is presented for the partnership of Maia, Cheska and Chinchin who shares profits and losses in the ratio of 5:3:2 respectively. ASSETS LIABILITIES AND EQUITY Cash P120,000.00 Liabilities P280,000.00 Other assets 1,080,000.00 Maia, Equity 560,000.00 Cheska, Equity 320,000.00 Chinchin, Equity 40,000.00 P1,200,000.00 P1,200,000.00 Question No. 4. Assume that the assets and liabiities are fairly valued on the statement of financial position and the partnership decided to admit Joco as a new partner with a 1/5 interest. No goodwill or bonus is to be recorded. How much should Joco contribute in cash or other assets? a. P240,000.00 b. P230,000.00 C.P184,000.00 d. P147,200.00 e. None of these Question No. 5. Assume tha instead of admitting a new partner, the partners decided to liquidate the partnership. If the other assets are sold for P800,000.00, how should the available cash be distributed to each partner? a. Maia, P280,000.00; Cheska, P320,000.00; Chinchin, P40,000.00 b. Maia, P324,000.00; Cheska, P236,000.00; Chinchin, P16,000.00 c. Maia, P412,000.00; Cheska, P228,000.00 d. Maia, P410,000.00; Cheska, P230,000.00 e. None of these