Problem 6-1 to 6-3

Assets Liabilities Capital

Cash Non-Cash Espina Espinosa Esteban
Balance 2,000.00 61,000.00 3,000.00 1,000.00 25,000.00 25,000.00
Sale of NC 23,200.00 -61,000.00 -5,400.00 -7,200.00 -10,800.00
Balance 25,200.00 0.00 3,000.00 -4,400.00 17,800.00 14,200.00
Payment of Liab -3,000.00 -3,000.00
Balance 22,200.00 0.00 0.00 -4,400.00 17,800.00 14,200.00
Insolvent Espina 4,400.00 -977.78 -1,466.67
Balance 22,200.00 0.00 0.00 0.00 16,822.22 12,733.33
Insolvent Estrellita -4,903.70 -4,413.33
Balance 22,200.00 0.00 0.00 0.00 11,918.52 8,320.00

Problem 6-1
Beg. Total Capital 60,000.00
Capital after all deductions -22,200.00
Decrease because of loss of sale of NC 37,800.00
Cash Proceeds from sale of NC 23,200.00
Book Value of NC 61,000.00
Problem 6-3
Problem 6-2
Decrease because of loss of sale of NC 37,800.00
Partner's Ratio 0.14
Share of Espina from Loss 5,400.00

Problem 6-4 to 6-5

Assets Liabilities Capital
Cash Non-Cash E1 E2
Balance 3,000.00 79,000.00 12,000.00 40,000.00 25,000.00
Sale of NC 37,000.00 -79,000.00 -21,000.00 -14,000.00
Balance 40,000.00 0.00 12,000.00 0.00 19,000.00 11,000.00
Payment of Liab -12,000.00 -12,000.00
Balance 28,000.00 0.00 0.00 0.00 19,000.00 11,000.00
Insolvent E3 -1,200.00 -800.00
Balance 28,000.00 0.00 0.00 0.00 17,800.00 10,200.00

Beg. Total Capital 70,000.00

Capital after all Deductions 28,000.00
Decrease due to Loss 42,000.00
Cash Proceeds from sale of NC 37,000.00
Book Value of NC 79,000.00

Problem 6-6 to 6-7

Assets Liabilities Capital
Cash Non-Cash Esper Elor
444,000.00 84,000.00 40,000.00 40,000.00
Profit 72,000.00 24,000.00 24,000.00
Balance 516,000.00 84,000.00 64,000.00 64,000.00
Loss -516,000.00 -172,000.00 -172,000.00
Balance - 84,000.00 -108,000.00 -108,000.00
Insolvent Esper 108,000.00 -54,000.00
Balance - 84,000.00 - -162,000.00
Insolvent Elor 162,000.00 162,000.00
Balance 162,000.00 - 84,000.00 - -
Payment of Liab -84,000.00 -84,000.00
Balance 78,000.00
Problem 6-8
Assets Liabilities Loans Capital
Cash Non-Cash Ender Escano Ender
Balance 30,000.00 70,000.00 - 14,000.00 10,000.00 35,000.00
Sale of NC 30,000.00 -70,000.00 -16,000.00 -12,000.00
Balance 60,000.00 0.00 0.00 14,000.00 -6,000.00 23,000.00
Insolvent Escano 6,000.00 -3,000.00
Balance 60,000.00 0.00 0.00 14,000.00 0.00 20,000.00

Ender,Capital End 20,000.00

Ender,Loan 14,000.00
Total Cash to be receive 34,000.00

Problem 6-9
Assets Liabilities Loans Capital
Cash Non-Cash Ender Escano Ender
Balance 30,000.00 70,000.00 - 14,000.00 10,000.00 35,000.00
Sale of NC 25,000.00 -70,000.00 -18,000.00 -13,500.00
Balance 55,000.00 0.00 0.00 14,000.00 -8,000.00 21,500.00
Insolvent Escano 5,000.00 8,000.00 -1,500.00
Balance 60,000.00 0.00 0.00 14,000.00 0.00 20,000.00

Problem 6-10
Capital Balance, End 10,000.00
Less:To be receive by Escano 12,000.00
Share on gain on Sale of NC 2,000.00
Divide:Partner's Ratio 0.40
Total Gain on Sale of NC 5,000.00
NC Book Value 70,000.00
Proceeds from Sale of NC 75,000.00

Problem 6-11
Assets Liabilities Capital
Cash Non-Cash Echo Egay
Balance 40,000.00 140,000.00 70,000.00 50,000.00 50,000.00
Sale of NC 80,000.00 -140,000.00 -36,000.00 -12,000.00
Balance 120,000.00 0.00 70,000.00 0.00 14,000.00 38,000.00
Payment of Liab -70,000.00 -70,000.00
Balance 50,000.00 0.00 0.00 0.00 14,000.00 38,000.00
Insolvent Elma 2,000.00
Balance 52,000.00 0.00 0.00 0.00 14,000.00 38,000.00

Problem 6-12
Assets Liabilities Capital
Cash Non-Cash Echo Egay
Balance 40,000.00 140,000.00 70,000.00 50,000.00 50,000.00
Sale of NC 80,000.00 -140,000.00 -12,000.00 -12,000.00
Balance 120,000.00 0.00 70,000.00 0.00 38,000.00 38,000.00
Payment of Liab -70,000.00 -70,000.00
Balance 50,000.00 0.00 0.00 0.00 38,000.00 38,000.00
Insolvent Elma -13,000.00 -13,000.00
Balance 50,000.00 0.00 0.00 0.00 25,000.00 25,000.00
Estrellita
9,000.00
-14,400.00
-5,400.00

-5,400.00
-1,955.56
-7,355.56
7,355.56
0.00

E3
5,000.00
-7,000.00
-2,000.00

-2,000.00
2,000.00
0.00

Este
280,000.00
24,000.00
304,000.00
-172,000.00
132,000.00
-54,000.00
78,000.00

78,000.00

78,000.00
Evelo
41,000.00
-12,000.00
29,000.00
-3,000.00
26,000.00

Evelo
41,000.00
-13,500.00
27,500.00
-1,500.00
26,000.00

Elma
10,000.00
-12,000.00
-2,000.00

-2,000.00
2,000.00
0.00

Elma
10,000.00
-36,000.00
-26,000.00

-26,000.00
26,000.00
0.00
Problem 6-13 to 6-15
Assets Liabilities Loan Capital
Cash Non-Cash Elmer Esmer Estrel Ellea Elmer
Balance 90,000.00 400,000.00 265,000.00 25,000.00 50,000.00 50,000.00 50,000.00 50,000.00
Sale of NC 120,000.00 -400,000.00 -112,000.00 -56,000.00 -56,000.00 -56,000.00
Balance 210,000.00 0.00 265,000.00 25,000.00 -62,000.00 -6,000.00 -6,000.00 -6,000.00
Insolvent Estrel -3,000.00 6,000.00 -1,500.00 -1,500.00
Balance 210,000.00 0.00 265,000.00 25,000.00 -65,000.00 0.00 -7,500.00 -7,500.00
Insolvent Esmer 65,000.00 65,000.00
Balance 275,000.00 0.00 265,000.00 25,000.00 0.00 0.00 -7,500.00 -7,500.00
Insolvent Ellea 7,500.00 7,500.00
Balance 282,500.00 0.00 265,000.00 25,000.00 0.00 0.00 0.00 -7,500.00
Insolvent Elmer -7500 7,500.00
Balance 282,500.00 0.00 265,000.00 17,500.00 0.00 0.00 0.00 0.00
Payment of Liab -265,000.00 -265,000.00
Balance 17,500.00 0.00 0.00 17,500.00 0.00 0.00 0.00 0.00

Problem 6-13 150,000.00

Problem 6-14 100,000.00

Problem 6-15
Available Personal Assets 200,000.00
Cash Receive from Partnership 17,500.00
Total Assets Available to Creditors 217,500.00