Quiz On Liquidation
Quiz On Liquidation
Quiz On Liquidation
NN OO PP
100,000
(10,000)
90,000
10%
900,000
(366,667) 36,667
533,333
(113,333) 34,000 11,333
420,000
(60,000) 18,000 6,000 6,000
360,000 - 52,000 6,000 54,000
Cash Accounts Payable Daniela, Capital
P/L Ratio 40%
Balances after selling of non-cash assets 20,000 10,000
Additional investment of Fredline 60,000
Balances 60,000 20,000 10,000
Payment of liabilities (20,000) (20,000) -
Balances 40,000 - 10,000
Additional losses to Daniela and Erika - -
Balances 40,000 10,000
Additionalinvestment of Daniela - (17,143)
Balances 40,000 (7,143)
Additional losses to Erika - 2,143
Balances 40,000 -
Payment to partners (45,000)
P Q R
2,000
Cash
Profit and Loss Percentages
Balances before Liquidation ₱3,000
Realization of Non-Cash Assets and Distribution of Losses 37,000
Balances 40,000
Payment of Liabilities to Outsiders (12,000)
Balances 28,000
Additional losses to T and O -
Balances 28,000
Payment to Partners (28,000)
TON Partnership
Statement of Liquidation
31-Dec-20
Dennis Lily
Cash balances before Distribution of Cash 96,000 64,000
Loan Balance - -
Partners' Total Interests 96,000 64,000
Restricted Interests - possible loss of P100,000 if
nothing is realized on the remaining non-cash assets;
60:40 ratio (60,000) (40,000)
Free Interests - amounts paid to partners 36,000 24,000
8 (D) 9 (A)
Dennis and Lily
Statement of Liquidation
June 1 - August 31,2018
Dennis Lily
96,000 64,000
Unrealised Noncash assets (60,000) (40,000)
Balances 36,000 24,000
Dennis, Capital Lily, Capital
120,000 80,000
(24,000) (16,000)
96,000 64,000
96,000 64,000
(36,000) (24,000)
60,000 40,000
(33,000) (22,000)
27,000 18,000
27,000 18,000
10 (b) 11 ©
Dennis and Lily
Statement of Liquidation
June 1 - August 31,2018
Cash Inventory
Balances before liquidation 100,000 200,000
First Sale of non-cash assets 60,000 (100,000)
Balances 160,000 100,000
June - payment of liabilities partial (60,000)
Balances 100,000 100,000
First Installation to Partners (Sched A) (100,000)
Balances - 100,000
Second sale of non-cash assets 10,000 (100,000)
Balances 10,000 -
Additional Investment of Dennis and Lily 30,000
Balances 40,000
Payment of Liabilities Full (40,000)
d Lily
iquidation
t 31,2018
Uno
Required 2
The Partner who has the highest priority is Tres.
Required 3
Required 4
Uno, Capital 12,000
Dos, Capital 9,000
Tres, Capital 3,000
Cuatro, Capital 6,000
Cash 30,000
Cash Available to
Partner based on P/l
Ratio 12,000 9,000 3,000 6,000
12,000 9,000 3,000 6,000
PQR Partnership
Cash Priority Program
Cash Priority P
Dos Tres Cuatro Uno
Total
140,000
220,000
360,000
Total
30,000
30,000
Cash Priority Payment to
Dos Tres Cuatro
90,000
22,500 7,500
7,500 2,500
30,000 100,000 -