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19-111 The partners John Rey Rodrigues, Fermo Mar and Corazon Tabaranza who shared prof: and losses in the ratio of 4:2:2 has decided to dissolve and liquidate their partnership. In the process of liquidation, their non-cash assets of P490,000 was realized at a loss of P340,000. However, they were able to pay their obligations to outside creditors of P105,000. The partners' equity balance before the start of the liquidation has totaled to P450,000, broken down as follows: Rodriguez P180,000 Mar 150,000 0-5 At what amount were the non-cash assets realized? a) P150,000 c) P200,000 6) P175,000 d) P225,000 Q-6 How much was the cash balance at the beginning of the liquidation process? a) P60,000 C) P70,000 6) P65,000 d) P75,000 Q-7 Assuming that Tabaranza develops a debit balance of P3,000 after the distribution of the realization loss and that she is still solvent, how much cash she needs to contribute to the partnership? a) P1,000 "c) P3,000 b) P2,000 d) .P4,000 Q-8 Assuming that Tabaranza is insolvent, how much Rodriguez and Mar shared on her capital deficiency of P3,000: Rodriguez Mar a) P2,000 P1,000 b) P2,500 P 500 c) P2,700 300 d) P3,000 19-IV he partnership of Hanie Sabado, Junril Gregori and Marites Gadia is facing liquidation. Their unarranged post-closing trial balance are being shown below: Cash P 30,000 Non-cash 170,000 Liability 20,000 H. Sabado, Loan 5,000 H. Sabado,Capital (40%) 40,00 J. Gregori, Capital (20%) 85,000 M. Gadia, Capital (40%) 50,000 their non-cash assets were realized Into two (2) installments. The first non-cash asset of 150,000 were sold for P40,000 and the balance of P20,000 were sold for P10,000. How much was the theoretical loss that must be shared among the partners? a) P20,000 C) P60,000 b) P50,000 d) P70,000 Q-10 How much is the respective share of each partner on the theoretical loss? Sabado Gregori Gadia a) P 8,000 P 4,000 P 8,000 b) 20,000 10,000 10,000 c) 24,000 12,000 24,000 d) none of these Q-11 To whom will the first cash available for distribution be given according to cash payments schedule? a) to Sabado for P70,000 c) to Gregori for P59,000 b) to Gregori for P50,000 d) to Gadia for P2,000 19-V The condensed Statement of Financial Position of Melchor Bombeo, Joseph Refugio and Oscar Baslao as of March 20A follows: Cash P 28,000 Other Assets 265,000 Total P293,000 Liabilities P 48,000 M. Bombeo, Capital 95,000 J. Refugio, Capital 80,000 O. Baslao, Capital 70,000 Tota P293,000 Profit and Loss ratio is 50:25:25 respectively. The partner voted to dissolve the partnership and liquidate by selling the assets in installment. P70,000 was rea the first cash sale of other non-cash assets which has a book value of P150,000. After settlement with creditors, all cash available was distributed to partners. Q-12 How much cash that was received by Baslao? a) P10,000 c) P21,250 6) P20,000 d) P32.500