Scribd
Upload
53 views2 pages

CH 025

The document discusses the capital balances and investments of partners in a partnership after assets were sold off. It states that Iyah's capital balance is negative P10,000 after selling non-cash assets. Mia made no additional investments. Ayah received no cash in the final settlement. Mia received the cash in the final settlement. Neither Ayah nor Iyah made any additional investments. Mia's share of the loss from selling non-cash assets was P80,000. Iyah's additional investment was P20,000.

Uploaded by

Joana Trinidad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
53 views2 pages

CH 025

The document discusses the capital balances and investments of partners in a partnership after assets were sold off. It states that Iyah's capital balance is negative P10,000 after selling non-cash assets. Mia made no additional investments. Ayah received no cash in the final settlement. Mia received the cash in the final settlement. Neither Ayah nor Iyah made any additional investments. Mia's share of the loss from selling non-cash assets was P80,000. Iyah's additional investment was P20,000.

Uploaded by

Joana Trinidad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

● How much is the capital balance of Iyah after the sale of non-cash assets?

(P10,000)

● How much additional investment was made by Mia?


P0

● How much cash was received by Ayah in the final settlement?


0

● Who among the partners have received the cash in the final settlement?
Mia

● How much is the additional investment made by Ayah?


0

● How much is the share of Mia from the gain (loss) on sale of non-cash assets?
(P80,000)

● How much is the additional investment made by Iyah?


20,000

1. Partners Roger, Sergio and Tito, who share profit and loss in the ratio of 3:5:2,
respectively have decided to liquidate their partnership. The Statement of Financial
Position of the partnership at the time of liquidation is shown below:
Assets Liabilities and Capital
Cash P120,000 Accounts Payable
P93,000
Other Assets 360,000 Loan from Sergio 30,000
Roger, Capital
108,000
Sergio, Capital
120,000
Tito, Capital
129,000
P480,000
P480,000

The partners desire to prepare an installment distribution schedule showing how cash
would be distributed to partners as assets are realized.

● The schedule of possible losses on capital balances would indicate that the first
cash distributed after the payment of outside creditors would be distributed to
Tito, in the amount of P57,000
● If Roger has received P30,000, how much would Sergio had received?
20,000

● In the schedule of maximum absorbable loss, the maximum absorbable loss for
each partner would be
Roger, 360,000; Sergio, 300,000; Tito, 645,000

You might also like