21.

) c
Genny =50,000*3/5
Genny 30,000.00

22.) a

Cash Noncash assets

Profit and loss ratio
Balances before liquidation 180,000.00
Realization and distribution of loss 120,000.00 - 180,000.00
Balances 120,000.00 -
Payment of liabilities/expense - 65,000.00
Balances 55,000.00 -
Payment to partners

Don Eon
Capital 26,500.00 9,500.00
Loan to: - 20,000.00
Total partners interest 26,500.00 - 10,500.00
Restricted interest - 7,500.00 10,500.00
Free interest 19,000.00 -

23.) e
Cash balance before liquidation 28,000.00
Realization and distribution of loss 374,080.00
Payment of liabilities/expense - 274,400.00
Cash distribution 127,680.00

24 & 25.) c & a

Cash Furniture
Profit and loss ratio
Cash balance before liquidation 25,000.00 25,000.00
Settlement Aure Loan - 25,000.00
Balances 25,000.00 -
Realization and distribution of loss 435,000.00
Balances 460,000.00 -
Payment of liabilities/expense - 123,000.00
Balances 337,000.00 -

26.) d
Moises, Capital 90,000.00
Loan 50,000.00
Total partners interest 140,000.00
Final settlement - 25,000.00
Share in LOR 115,000.00
Divide: P/L ratio 40%
Total LOR 287,500.00

27.) a

Cash Furniture
Profit and loss ratio
Cash balance before liquidation 25,000.00 25,000.00
Settlement Aure Loan - 25,000.00
Balances 25,000.00 -
Realization and distribution of loss 435,000.00
Balances 460,000.00 -
Payment of liabilities/expense - 123,000.00
Balances 337,000.00 -

28.) d

Cash Noncash assets

Profit and loss ratio
Balances before liquidation 360,000.00 1,785,000.00
Realization and distribution of loss 960,000.00 - 1,200,000.00
Balances 1,320,000.00 585,000.00
Liquidation expense - 30,000.00
Balances 1,290,000.00 585,000.00
Payment of liabilities - 362,000.00
Balances 928,000.00 585,000.00

Schedule A - Schedule of Safe Payments

Vice Ion
Capital balances 325,000.00 284,000.00
Loss from realization - 292,500.00 - 175,500.00
Balances 32,500.00 108,500.00
Anticipated expense - 2,500.00 - 1,500.00
Balances 30,000.00 107,000.00

Ion balance 108,500.00

Cash payment to Ion 107,000.00
Share in anticipated expense 1,500.00
Divide: P/L 30%
Total anticipated expense 5,000.00
Add: Liabilities 638,000.00
Total expense and liabilities 643,000.00

29.) a
Cash Noncash assets
Profit and loss ratio
Balances before liquidation 5,000.00 325,000.00
Realization and distribution of loss 231,000.00 - 325,000.00
Balances 236,000.00 -
Payment of liabilities/expenses - 96,000.00
Balances 140,000.00 -
Offset loan
Balances 140,000.00 -

Cash distribution 140,000.00

Add: Liabilities/expenses 96,000.00
Cash balance after realization 236,000.00
Less: Cash balance before realization 5,000.00
Proceeds from realization 231,000.00

30.) a
Cash Noncash assets
Profit and loss ratio
Balances before liquidation 72,000.00 357,000.00
Realization and distribution of loss 192,000.00 - 192,000.00
Balances 264,000.00 165,000.00
Payment of liabilities/expense - 38,400.00
Balances 225,600.00 165,000.00

Sally capital balance 129,000.00

Theoretical loss -82500
Balance 46,500.00
Less: Cash receipt 37500
Sally, amount set aside 9,000.00
Divide: P/L 50%
Total amount set aside 18,000.00

31 & 32.) a & b

Capital
Labby Arlene
Capital balances 180,000.00 120,000.00
Add: Loan balances - 20,000.00
Total partners interest 180,000.00 100,000.00
Divide: P/L ratio 30% 50%
Loss absorption capacity 600,000.00 200,000.00
Allocation 1: (100K*30%) - 100,000.00
Balance 500,000.00 200,000.00
Allocation 2: (260K*P/L) - 300,000.00
Balance 200,000.00 200,000.00
Allocation 3: (P/L

Arlene cash receipt 30,000.00

Divide: P/L 50%
Total cash distribution 60,000.00
Multiply: 20%
Bully cash receipt 12,000.00
Add: Previous allocation 60,000.00
Bully total cash receipt 72,000.00

33.) b
Ben balance before realization 676,000.00
Less: Ben settlement 552,000.00
Share in LOR 124,000.00
Divide: P/L 40%
LOR 310,000.00

Noncash asset 2,240,000.00

Less: LOR 310,000.00
Proceeds of sale 1,930,000.00

34.) d

Cash Noncash assets

Profit and loss ratio
Balances before liquidation 28,000.00 265,000.00
Realization and distribution of loss 70,000.00 - 150,000.00
Balances 98,000.00 115,000.00
Payment of liabilities - 48,000.00
Balance 50,000.00 115,000.00
Payment to partners

Andrew Jaycee
Total partners interest 55,000.00 60,000.00
Theoretical loss - 57,500.00 - 28,750.00
Balance - 2,500.00 31,250.00
Restricted interest 2,500.00 - 1,250.00
Free interest - 30,000.00

35.) b

Cash Noncash assets

Profit and loss ratio
Balances before liquidation 14,000.00 71,000.00
Realization and distribution of loss 29,000.00 - 34,000.00
Balances 43,000.00 37,000.00
Payment of liabilities/expenses - 36,000.00
Balance 7,000.00 37,000.00
Payment to partners
 Perry Penny
Total partners interest 23,800.00 20,200.00
Theoretical loss - 25,900.00 - 37,000.00
Balance - 2,100.00 - 16,800.00
Restricted interest 2,500.00 - 1,050.00
Free interest 400.00 - 17,850.00

Perry Penny
Capital balances 28,000.00 22,000.00
Divide: P/L ratio 70% 30%
Loss absorption capacity 40,000.00 73,333.33
Allocation 1: (33,333.33*.3) 33,333.33
Balances 40,000.00 40,000.00
Allocation 2: P/L

36 & 37. d & c

Cash Noncash assets

Profit and loss ratio
Balances before liquidation 500,000.00 3,600,000.00
Realization and distribution of loss 1,050,000.00 - 1,800,000.00
Balances 1,550,000.00 1,800,000.00
Payment of liabilities
Recorded - 640,000.00
Unrecorded - 50,000.00
Balances 860,000.00 1,800,000.00
Payment to partners (see sched) - 400,000.00
Balances 460,000.00 1,800,000.00

Schedule A - Schedule of Safe Payments

Jeorge Romeo
Capital balances 480,000.00 980,000.00
Loss from realization - 720,000.00 - 720,000.00
Cash set aside - 24,000.00 - 24,000.00
Balance - 264,000.00 236,000.00
Restricted interest - 176,000.00
Free interest 60,000.00

Payment applied to
Capital 60,000.00

38-40.) c, d & b
 Cash Current assets
Profit and loss ratio
Balances before liquidation 60,000.00 360,000.00
Realization and distribution of loss 563,800.00 - 234,000.00
Balances 623,800.00 126,000.00
Liquidation expense - 15,000.00
Balances 608,800.00 126,000.00
Payment of liabilities - 270,000.00
Balances 338,800.00 126,000.00
Payment to partners - 130,800.00
Balances 208,000.00 126,000.00
Realization and distribution of loss 422,800.00 - 126,000.00
Balances 630,800.00 -
Partial settlement of loan
Balances 630,800.00 -
Liquidation expense - 12,000.00
Balances 618,800.00 -
Payment of liabilities - 200,000.00
Balances 418,800.00 -
Offset loan
Balances 418,800.00 -
Payment to partners - 418,800.00 -

1st Month Carrying value Selling price

Current assets 234,000.00 163,800.00
Noncurrent assets 495,000.00 400,000.00
Total 729,000.00 563,800.00

2nd Month Carrying value Selling price

Current assets 126,000.00 106,000.00
Noncurrent assets
Partial payment 99,000.00 70,000.00
Balance 396,000.00 316,800.00
Total 225,000.00 176,000.00

Schedule A - Schedule of Safe Payments

Tanny Louie
Capital balances 309,900.00 345,940.00
Add: Loan to 70,000.00
Less: Loan from - 120,000.00
Total partnership interest 189,900.00 415,940.00
Loss on realization (621K+8) - 314,500.00 - 188,700.00
Balance - 124,600.00 227,240.00
Restricted interest 124,600.00 - 74,760.00
Free interest 152,480.00
 - 21,680.00
130,800.00

Payment applied
Capital 130,800.00
Loan to Capital
Eon Liabilities Don Eon
50.00 30.00
20,000.00 60,000.00 59,000.00 29,000.00
- 30,000.00 - 18,000.00
20,000.00 60,000.00 29,000.00 11,000.00
- 60,000.00 - 2,500.00 - 1,500.00
20,000.00 - 26,500.00 9,500.00

Fon
39,000.00

39,000.00
- 3,000.00
36,000.00

Loan from C
Other Assets Liabilities Aure Aure
0.50
580,000.00 120,000.00 10,000.00 160,000.00
- 10,000.00 - 7,500.00
580,000.00 120,000.00 - 152,500.00
- 580,000.00 - 72,500.00
- 120,000.00 - 80,000.00
- 120,000.00 - 1,500.00
- - - 78,500.00
 Loan from C
Other Assets Liabilities Ale Ale
0.50
580,000.00 120,000.00 10,000.00 160,000.00
- 10,000.00 - 7,500.00
580,000.00 120,000.00 - 152,500.00
- 580,000.00 - 72,500.00
- 120,000.00 - 80,000.00
- 120,000.00 - 1,500.00
- - - 78,500.00

Capital
Liabilities Vice Ion Jhong
5.00 3.00 2.00
1,000,000.00 460,000.00 365,000.00 320,000.00
- 120,000.00 - 72,000.00 - 48,000.00
1,000,000.00 340,000.00 293,000.00 272,000.00
- 15,000.00 - 9,000.00 - 6,000.00
1,000,000.00 325,000.00 284,000.00 266,000.00
- 362,000.00
638,000.00 325,000.00 284,000.00 266,000.00

Jhong Total cash distribution

266,000.00
- 117,000.00
149,000.00
- 1,000.00
148,000.00 285,000.00

Loan to Loan from Capital

Julia Liabilities James Julia
1/3
10,000.00 90,000.00 30,000.00 50,000.00
 - 31,333.33
10,000.00 90,000.00 30,000.00 18,666.67
- 90,000.00 - 2,000.00
10,000.00 - 30,000.00 16,666.67
- 10,000.00 - 10,000.00
- - 30,000.00 6,666.67

Capital
Liabilities Sally Bella Paula
50.00 25.00 25.00
120,000.00 132,000.00 93,000.00 84,000.00

120,000.00 132,000.00 93,000.00 84,000.00

- 32,400.00 - 3,000.00 - 1,500.00 - 1,500.00
87,600.00 129,000.00 91,500.00 82,500.00

tal Cash payment

Bully Labby Arlene Bully
60,000.00
40,000.00
100,000.00
20%
500,000.00
30,000.00
500,000.00
- 300,000.00 90,000.00 60,000.00
200,000.00
 Capital
Liabilities Andrew Jaycee Jaypee
50.00 25.00 25.00
48,000.00 95,000.00 80,000.00 70,000.00
- 40,000.00 - 20,000.00 - 20,000.00
48,000.00 55,000.00 60,000.00 50,000.00
- 48,000.00
- 55,000.00 60,000.00 50,000.00

Jaypee
50,000.00
- 28,750.00
21,250.00
- 1,250.00
20,000.00

Capital
Liabilities Perry Penny
70.00 30.00
35,000.00 28,000.00 22,000.00
- 3,500.00 - 1,500.00
35,000.00 24,500.00 20,500.00
- 35,000.00 - 700.00 - 300.00
- 23,800.00 20,200.00
Perry Penny

10,000.00

Capital
Liabilities Jeorge Romeo Lei
40.00 40.00 20.00
1,040,000.00 800,000.00 1,300,000.00 960,000.00
- 300,000.00 - 300,000.00 - 150,000.00
1,040,000.00 500,000.00 1,000,000.00 810,000.00

- 640,000.00
- 20,000.00 - 20,000.00 - 10,000.00
400,000.00 480,000.00 980,000.00 800,000.00
- 60,000.00 - 340,000.00
400,000.00 480,000.00 920,000.00 460,000.00

Lei
800,000.00
- 360,000.00
- 12,000.00
428,000.00
- 88,000.00
340,000.00

340,000.00

Loan from
Noncurrent assets Tanny Corrie Liabilities

990,000.00 120,000.00 75,000.00 470,000.00

- 495,000.00
495,000.00 120,000.00 75,000.00 470,000.00

495,000.00 120,000.00 75,000.00 470,000.00

- 270,000.00
495,000.00 120,000.00 75,000.00 200,000.00

495,000.00 120,000.00 75,000.00 200,000.00

- 396,000.00
99,000.00 120,000.00 75,000.00 200,000.00
- 99,000.00
- 120,000.00 75,000.00 200,000.00

- 120,000.00 75,000.00 200,000.00

- 200,000.00
- 120,000.00 75,000.00 -
- 120,000.00 - 75,000.00
- - - -
- - - -

Loss
70,200.00 1st month LOR 165,200.00
95,000.00 2nd month LOR 128,200.00
165,200.00 Total LOR 293,400.00

Loss
20,000.00
-
29,000.00
79,200.00
128,200.00

Corrie
228,960.00

- 75,000.00
153,960.00
- 125,800.00
28,160.00
- 49,840.00
- 21,680.00
21,680.00
-
tal
Fon
20.00
52,000.00
- 12,000.00
40,000.00
- 1,000.00
39,000.00

Capital
Brian Digna Kaloy
0.30 0.10 0.10
140,000.00 130,000.00 70,000.00
- 4,500.00 - 1,500.00 - 1,500.00
135,500.00 128,500.00 68,500.00
- 43,500.00 - 14,500.00 - 14,500.00
92,000.00 114,000.00 54,000.00
- 900.00 - 300.00 - 300.00
91,100.00 113,700.00 53,700.00
 Capital
Bel Del Kel
0.30 0.10 0.10
140,000.00 130,000.00 70,000.00
- 4,500.00 - 1,500.00 - 1,500.00
135,500.00 128,500.00 68,500.00
- 43,500.00 - 14,500.00 - 14,500.00
92,000.00 114,000.00 54,000.00
- 900.00 - 300.00 - 300.00
91,100.00 113,700.00 53,700.00

Capital
Kristine James
1/3 1/3
96,000.00 74,000.00
- 31,333.33 - 31,333.33
64,666.67 42,666.67
- 2,000.00 - 2,000.00
62,666.67 40,666.67

62,666.67 40,666.67
Loan to Capital
Louie Tanny Louie Corrie
50.00 30.00 20.00
70,000.00 400,000.00 400,000.00 265,000.00
- 82,600.00 - 49,560.00 - 33,040.00
70,000.00 317,400.00 350,440.00 231,960.00
- 7,500.00 - 4,500.00 - 3,000.00
70,000.00 309,900.00 345,940.00 228,960.00

70,000.00 309,900.00 345,940.00 228,960.00

- 130,800.00
70,000.00 309,900.00 215,140.00 228,960.00
- 49,600.00 - 29,760.00 - 19,840.00
70,000.00 260,300.00 185,380.00 209,120.00
- 70,000.00 - 14,500.00 - 8,700.00 - 5,800.00
- 245,800.00 176,680.00 203,320.00
- 6,000.00 - 3,600.00 - 2,400.00
- 239,800.00 173,080.00 200,920.00

- 239,800.00 173,080.00 200,920.00

- 120,000.00 - 75,000.00
- 119,800.00 173,080.00 125,920.00
- - 119,800.00 - 173,080.00 - 125,920.00
21 c
22 a
23 e
24 c
25 a
26 d
27 a
28 d
29 a
30 a
31 a
32 b
33 b
34 d
35 b
36 d
37 c
38 c
39 d
40 b