With solution

19 -1 Rolando Ibanez, Raul Langbid and Paulino Pedrono with capital balances of P80,000, P70,000 and P50,000 decided to liquidate their partnership business. Balances of accounts consisted of Assets, P250,000 of which P20,000 is cash and liabilities is P50,000. They agreed that capital ratio will be used in the liquidation process. Q - 1 If non-cash assets are realized for P280,000, the capital balance of each partner after effecting the realization gain - Ibanez Langbid Pedronio a) P100,000 P87,500 P62,500 b) 38,000 77,000 55,000 79,000 75,000 50,000 d) 78,000 73,000 49,000 Q -2 If non-cash assets are realized for P200,000, the share of each partner on the realization loss - Ibanez Langbid Pedronio ( P12,000) ( P10,500) ( P 7,500) ( 10,000) ( 8,500) ( 5,500) 6,500) 3,500) 8,000) ( 1,500) 6,000) ( 4,500)