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    Meldred Ecat
    The document shows the liquidation of a partnership. It provides the balances of cash, non-current assets (NCA), and liabilities at various stages of liquidation. It then shows the distribution of funds to partners Limin, Parducho, and Calingasan according to their profit/loss sharing ratios of 5:3:2. Funds are first used to pay off liabilities. Remaining cash is then distributed to partners in installments until all assets have been liquidated and all capital and loans are repaid.

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    Far Quiz

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    Meldred Ecat
    468 views7 pages
    The document shows the liquidation of a partnership. It provides the balances of cash, non-current assets (NCA), and liabilities at various stages of liquidation. It then shows the distribution of funds to partners Limin, Parducho, and Calingasan according to their profit/loss sharing ratios of 5:3:2. Funds are first used to pay off liabilities. Remaining cash is then distributed to partners in installments until all assets have been liquidated and all capital and loans are repaid.

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    The document shows the liquidation of a partnership. It provides the balances of cash, non-current assets (NCA), and liabilities at various stages of liquidation. It then shows the distribution of funds to partners Limin, Parducho, and Calingasan according to their profit/loss sharing ratios of 5:3:2. Funds are first used to pay off liabilities. Remaining cash is then distributed to partners in installments until all assets have been liquidated and all capital and loans are repaid.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    468 views7 pages

    Far Quiz

    Uploaded by

    Meldred Ecat
    The document shows the liquidation of a partnership. It provides the balances of cash, non-current assets (NCA), and liabilities at various stages of liquidation. It then shows the distribution of funds to partners Limin, Parducho, and Calingasan according to their profit/loss sharing ratios of 5:3:2. Funds are first used to pay off liabilities. Remaining cash is then distributed to partners in installments until all assets have been liquidated and all capital and loans are repaid.

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    of 7

    CASH NCA LIABILITIES

    P/L RATIO
    BALANCE BEFORE LIQUIDATON 400,000 2,100,000 600,000
    SALE OF NCA 900,000 -1200000
    LOSS ON REALIZATION
    BALANCES 1,300,000 900,000 600,000
    LIQUIDATION EXPENSE -20,000
    BALANCES 1,280,000 900,000 600,000
    PAYMENT OF LIABILITIES -600,000 -600000
    BALANCES 680,000 900,000 0
    1ST- INSTALLMENT TO PARTNERS -680,000
    BALANCES 0 900,000
    SALE OF NCA 550,000 -900,000
    LOSS ON REALIZATION
    BALANCES 550,000 0
    PAYMENT OF LOAN FROM LIMIN
    BALANCES 550,000
    PAYMENT TO PARTNERS -550,000
    BALANCES 0

    1ST INSTALLMENT LIMIN,PARDUCHO,CALINGASAN


    STATEMENT OF SAFE PAYMENTS

    LIMIN PARDUCHO
    CASH BALANCES B4 DISTRIBUTION OF CASH 240000 624,000
    LOAN BALANCE 80,000
    PARTNERS' TOTAL INTEREST 320,000 624,000
    RESTRICTED INTERESTS- 900,000 -450,000 -270,000
    BALANCES -130,000 354,000
    RESTRICTED INTERESTS- 130,000 130,000 -78,000
    FREE INTERESTS- AMOUNT TO BE PAID TO PARTNERS 0 276,000

    2ND INSTALLMENT LIMIN,PARDUCHO,CALINGASAN


    STATEMENT OF SAFE PAYMENTS

    LIMIN PARDUCHO
    CASH BALANCES B4 DISTRIBUTION OF CASH 65,000 243,000
    LOAN BALANCE 80,000.00
    PARTNERS' TOTAL INTEREST 145,000 243,000
    RESTRICTED INTERESTS
    BALANCES
    RESTRICTED INTERESTS
    FREE INTERESTS- AMOUNT TO BE PAID TO PARTNERS 145,000 243,000

    LIMIN,PARDUCHO,CALINGASAN
    CASH PRIORITY PROGRAM
    JANUARY-FEBRUARY 2022
    LIMIN PARDUCHO
    CAPITAL BALANCES 400,000 720,000
    ADD: LOAN BALANCES 80,000
    PARTNERS' TOTAL INTERESTS 480,000 720,000
    DIVIDE BY: P/L RATIO 5 3
    LOSS ABSORPTION LOSSES 960,000 2,400,000
    PRIORITY 1: TO CALINGASAN
    960,000 2,400,000
    PRIORITY 2 TO PARDUCHO& CALINGASAN -1,440,000
    960,000 960,000

    CASH NCA LIABILITIES


    P/L RATIO
    BALANCE BEFORE LIQUIDATON 400,000 2,100,000 600,000
    SALE OF NCA 900,000 -1200000
    LOSS ON REALIZATION
    BALANCES 1,300,000 900,000 600,000
    LIQUIDATION EXPENSE -20,000
    BALANCES 1,280,000 900,000 600,000
    PAYMENT OF LIABILITIES -600,000 -600000
    BALANCES 680,000 900,000 0
    1ST PAYMENT -680,000
    BALANCES 0
    SALE OF NCA 550,000 -900,000
    LOSS ON REALIZATION
    BALANCES 550,000 0
    PAYMENT OF LOAN FROM LIMIN
    BALANCES 550,000
    PAYMENT TO PARTNERS -550,000
    BALANCES 0
    LIMIN,LOAN LIMIN,CAPITAL PARDUCHO,CAPITAL CALINGASAN,CAPITAL
    5 3 2
    80,000 400,000 720,000 700,000

    -150,000 -90,000 -60,000


    80,000 250,000 630,000 640,000
    -10,000 -6,000 -4,000
    80,000 240,000 624,000 636,000

    80,000 240,000 624,000 636,000


    -276,000 -404,000
    80,000 240,000 348,000 232,000

    -175,000 -105,000 -70,000


    80,000 65,000 243,000 162,000
    -80,000 80,000
    0 145,000 243,000 162,000
    -145,000 -243,000 -162,000
    0 0 0

    MIN,PARDUCHO,CALINGASAN
    ATEMENT OF SAFE PAYMENTS

    CALINGASAN
    636,000

    636,000
    -180,000
    456,000
    -52,000
    404,000

    MIN,PARDUCHO,CALINGASAN
    ATEMENT OF SAFE PAYMENTS

    CALINGASAN
    162,000
    162,000

    162,000

    MIN,PARDUCHO,CALINGASAN
    CASH PRIORITY PROGRAM
    JANUARY-FEBRUARY 2022 CASH PRIORITY PAYMENTS TO
    CALINGASAN LIMIN PARDUCHO CALINGASAN
    700,000

    700,000
    2
    3,500,000
    -1,100,000 220,000
    2,400,000
    -1,440,000 432,000 288,000
    960,000 0 432,000 508,000
    680,000-220,000 -156,000 -104,000
    460,000 276,000 404,000
    260,000 TO BE USED NEXT PAYMENT
    LIMIN,LOAN LIMIN,CAPITAL PARDUCHO,CAPITAL CALINGASAN,CAPITAL
    5 3 2
    80,000 400,000 720,000 700,000

    -150,000 -90,000 -60,000


    80,000 250,000 630,000 640,000
    -10,000 -6,000 -4,000
    80,000 240,000 624,000 636,000

    80,000 240,000 624,000 636,000


    -276,000 -404,000
    348,000 232,000

    -175,000 -105,000 -70,000


    80,000 65,000 243,000 162,000
    -80,000 80,000
    0 145,000 243,000 162,000
    -145,000 -243,000 -162,000
    0 0 0
    LEGENDS
    RED- JOURNAL ENTRIES
    CASH PRIORITY PAYMENTS TO
    LIMIN PARDUCHO
    PRIORITY 2 BALANCE OF 260,000

    PARDUCHO: 260,000 x 3/5 156,000


    CALINGASAN 260,000 x 2/5

    PRIORITY 3: TO ALL PARTNERS 5:3:2 RATIO

    LIMIN: 290,000 x 5/10 145,000


    PARDUCHO290,000 x 3/10 87,000
    CALINGASAN 290,000 x 2/ 10
    TOTAL 145,000 243,000
    AYMENTS TO
    CALINGASAN TOTAL
    260,000

    104,000

    290,000

    58,000
    162,000 550,000

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