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Problem #1 Arenas, Dulay, and Laureta Statement of Financial Position June 30, 2015
Cash Noncash Assets Liablities Arenas, Capital Dulay, Capital Laurente, Capital Balance P50,000 P2,350,000 P400,000 P900,000 P500,000 P600,000 Sale of Noncash 2,650,000 (2,350,000) 100,000 100,000 100,000 Balance P2,700,000 P400,000 P1,000,000 P600,000 P700,000 Payment of Liabilities P(400,000) (400,000) Payment of Partners P2,350,000 P1,000,000 P600,000 P700,000
Problem #3 1.Cash 582,800 Loss on realization 29,500 Merchandise Inventory 612,300
Gulane, Capital 11,800 Tormis, Capital 11,800 Sailadin, Capital 5,900 Loss on Realization
2. Cash 550,900 Gain on Relization 78,220 Other Assets 472,680 Gain on Realization 78,220 Gulane, Capital 31,288 Tormis, Capital 31,288 Sailadin, Capital 15,644
3. Accounts Payable 131,350 Cash 131,350
4. Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520
Problem #8 1. P60,00 2. Equally 3. Soria, Capital= P 120,000 Paras, Capital= P 40,00
Problem #11 ABL Partnership Statement of Financial Position December 21, 2015
Cash Noncash Assets Liabilities Bantiles Loan Aparece, Capital Bantiles, capital Lerin, Capital Balance P25,000 P475,000 P240,000 P30,000 P120,000 P50,000 P60,000 Sale of Noncash Assets 260,000 (475,000) (43,000) (86,000) (86,000) Balance P285,000 P240,000 P77,000 (P36,000) (P26,000) Payment of Liabilities (240,000) (240,000) Balance P45,000 P77,000 (P36,000) (P26,000) Additioanal investments of Bantiles and Lerin 61,000 36,000 25,000 Balance P106,000 P77,000 (P1,000) Additional losses to Aparece (P1,000) 1,000
Endong, Mark Millan N. BSA-1A Problem # 1 Jun. 30 Cash 2 650 000 Gain on realization 300 000 Non-Cash Assets 2 350 000 to record the asset being sold. / Gain on Realization 300 000 Arenas, Capital 100 000 Dulay, Capital 100 000 Laurente, Capital 100 000 to record the share of gain on realization. / Liabilities 400 000 Cash 400 000 to record payment of liabilities. / Arenas, Capital 1 000 000 Dulay, Capital 600 000 Laurente, Capital 700 000 Cash 2 300 000 To record payment of remaining cash. Arenas, Dulay and Laurente Statement of Liquidation June 30, 2015
Problem # 3 Jun.30Cash 1 133 700 Gain on Realization 48 720 Merchandise Inventory 612 300 Other Assets 472 680 to record asset being sold. / Gain on Realization 48 720 Gulane, Capital 19 488 Tormis, Capital 19 488 Sailadin, Capital 9 744 To record share in gain on realization. / Liabilities 131 350 Cash 131 350 to record payment of liabilities. / Gulane, Capital 581 088 Tormis, Capital 456 288 Sailadin, Capital 382 144 Cash 1 421 520 to record payment of remaining cash to partners.
PROBLEM #1 1. Sales of Non-Cash Assets Cash 2,650,000 Non- Cash Assets 2,350,000 Gain on Realization 300,000
2. Distribution of gains on realization to the partners.
Gain on Realization 300,000
Arenas, Capital 100,000 Dulay, Capital 100,000 Laurente, Capital 100,000
3. Payment of the liabilities Liabilities 400,000 Cash 400,000
4. Distribution of cash to the partners.
Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurente, Capital 700,000 Cash 2,300,000
PROBLEM #3
1. Sales of Non-Cash Assets Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472,680 Gain on Realization 48,720 2. Distribution of gains on realization to the partners.
Gain on Realization 48,720
Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capital 9,744
3. Payment of Liabilities
Accounts Payable 131,350
Cash 131,350
4. Distribution of cash to the partners.
Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144
Cash 1,421,520
PROBLEM #8
1. What is the amount of loss or gain on realization?
Loss Realization: P160,000 (150,000) (70,000) _________ (P 60,000)
2. How should the loss or gain be divided between the partners?
-Based in Profit and Loss Ratio. The problem states that it must be divided equally.
3. How much cash should be distributed to each partner?
*Distribution of Loss Realization to the partners Soria, Capital 30,000 Paras, Capital 30,000 Loss on Realization 60,000
*Distribution of cash to the partners. Soria, Capital 120,000 Paras, Capital 40,000 Cash 160,000
PROBLEM #11
ABL PARTNERSHIP Statement of Liquidation December 1, 2015
Cash NCA Liab. B, Loan A, Capital B, Capital C,Capital
PROBLEM #1 1. Sales of Non-Cash Assets Cash 2,650,000 Non- Cash Assets 2,350,000 Gain on Realization 300,000
2. Distribution of gains on realization to the partners.
Gain on Realization 300,000
Arenas, Capital 100,000 Dulay, Capital 100,000 Laurente, Capital 100,000
3. Payment of the liabilities Liabilities 400,000 Cash 400,000
4. Distribution of cash to the partners.
Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurente, Capital 700,000 Cash 2,300,000
PROBLEM #3
1. Sales of Non-Cash Assets Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472,680 Gain on Realization 48,720 2. Distribution of gains on realization to the partners.
Gain on Realization 48,720
Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capital 9,744
3. Payment of Liabilities
Accounts Payable 131,350
Cash 131,350
4. Distribution of cash to the partners.
Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144
Cash 1,421,520
PROBLEM #8
1. What is the amount of loss or gain on realization?
Loss Realization: P160,000 (150,000) (70,000) _________ (P 60,000)
2. How should the loss or gain be divided between the partners?
-Based in Profit and Loss Ratio. The problem states that it must be divided equally.
3. How much cash should be distributed to each partner?
*Distribution of Loss Realization to the partners Soria, Capital 30,000 Paras, Capital 30,000 Loss on Realization 60,000
*Distribution of cash to the partners. Soria, Capital 120,000 Paras, Capital 40,000 Cash 160,000
PROBLEM #11
ABL PARTNERSHIP Statement of Liquidation December 1, 2015
Cash NCA Liab. B, Loan A, Capital B, Capital C,Capital
PROBLEM #1 1. Sales of Non-Cash Assets Cash 2,650,000 Non- Cash Assets 2,350,000 Gain on Realization 300,000
2. Distribution of gains on realization to the partners.
Gain on Realization 300,000
Arenas, Capital 100,000 Dulay, Capital 100,000 Laurente, Capital 100,000
3. Payment of the liabilities Liabilities 400,000 Cash 400,000
4. Distribution of cash to the partners.
Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurente, Capital 700,000 Cash 2,300,000
PROBLEM #3
1. Sales of Non-Cash Assets Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472,680 Gain on Realization 48,720 2. Distribution of gains on realization to the partners.
Gain on Realization 48,720
Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capital 9,744
3. Payment of Liabilities
Accounts Payable 131,350
Cash 131,350
4. Distribution of cash to the partners.
Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144
Cash 1,421,520
PROBLEM #8
1. What is the amount of loss or gain on realization?
Loss Realization: P160,000 (150,000) (70,000) _________ (P 60,000)
2. How should the loss or gain be divided between the partners?
-Based in Profit and Loss Ratio. The problem states that it must be divided equally.
3. How much cash should be distributed to each partner?
*Distribution of Loss Realization to the partners Soria, Capital 30,000 Paras, Capital 30,000 Loss on Realization 60,000
*Distribution of cash to the partners. Soria, Capital 120,000 Paras, Capital 40,000 Cash 160,000
PROBLEM #11
ABL PARTNERSHIP Statement of Liquidation December 1, 2015
Cash NCA Liab. B, Loan A, Capital B, Capital C,Capital
Reynanel Yu Argales BSA-1A Problem #1 1. Cash 2,650,000 Non Cash Assets 2,350,000 Gain on Realization 300,000 sale of non cash assets 2. Gain on Realization 300,000 A, Capital 100,000 D, Capital 100,000 L, Capital 100,000 distribution of realization 3. Liabilities 400,000 Cash 400,000 payment of liabilities 4. A, capital 1,000,000 D, Capital 600,000 L, Capital 700,000 Cash 2,300,000 distribution of cash to partners
Arenas, Dulay, Laurente Statement of Liquidation June 30, 2015 cash nca liabilities A, C D, C L, C Balance 50,000 2,350,000 400,000 900,000 500,000 600,000 Sale 2,650,000 (2,350,000) 100,000 100,000 100,000 Payment (400,000) (400,000) _____________________________________________________________________ Balances 2,300,000 0 0 1,000,000 600,000 700,000 Payments (2,300,000) (1,000,000) (600,000) (700,000) =============================================================
Problem #3 Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472, 680 Gain on Realization 48,720 sale of non cash assets
Gain on realization 48,720 G, C 19,488 T, C 19,488 S, C 9,744 distribution of realization
A/P 131,350 Cash 131,350 Payment of liabilities
G, C 581,088 T, C 456,288 S, C 384,144 Cash 1,421,520 distribution of cash to partners
Problem #1 Arenas, Dulay and Laurente Partnership Statement of Liquidation June 30 2015 Cash Non-cashAssets Liabilities Arena, Capital Dulay, Capital Laurente, Capital Balances P50 000 P2 350 000 P400 000 P900 000 P500 000 P600 000 Sale of Non cash asset 2 650 000 2 350 000 100 000 100 000 100 000 Balances 2 700 000 400 000 1 000 000 600 000 700 000 Payment of Liabilities (400 000) (400 000) Balances 2 300 000 1 000 000 600 000 700 000 Payment to Partners (2 300 000) (1 000 000) (600 000) (700 000)
2015 June 30 Cash 2 650 000 Gain on Realization 300 000 Non-Cash Assets 2 350 000 Sale of non cash asset. Gain on Realization 300 000 Arenas Capital 100 000 Dulay Capital 100 000 Laurrente Capital 100 000 Distribution of Gain to partners. Liabilities 400 000 Cash 400 000 Payment of Liabilities. Arena Capital 1 000 000 Dulay Capital 600 000 Laurente Capital 700 000 Cash 2 300 000 Distribution of Cash to partners. Problem #3 2015 June 30 Cash 582 800 Loss on Realization 29 500 Merchandise Inventory 612 300 Sale of merchandise inventory. Cash 550 900 Gain on Realization 78 220 Other Asset 472 680 Sale of other assets. Gulane Capital 11 800 Tormis Capital 11 800 Sailadin Capital 5 900 Loss on Realization 29 500 Distribution of loss to partners. Gain on Realization 78 220 Gulane Capital 31 288 Tormis Capital 31 288 ` Sailadin Capital 15 644 Distribution of gain to partners. Gulane Capital 58 088 Tormis Capital 456 258 Sailadin Capital 384 144 Cash 1 421 520 Disribution of cash to partners.
Problem#8
1. P60 000 (150 000+70 000-160 0000) 2. Divide by 2 since they share profits and loss equally. 60 000/2= 30 000 each. 3. P160 000. P120 000 to Soria and P40 000 to Paras.
Problem #11 Cash A.R Inventory Property&Eqpt A.P Bantilles Aparece Bantilles Lerin Loan Capital Capital Capital Balances P25 000 P75 000 P100 000 P300 000 P240 000 P30 000 P120 000 P50 000 P60 000 Sale of Non Cash Asset 260 000 (75 000) (100 000) (300 000) (43 000) (86 000) (86 000) Balances 285 000 240 000 30 000 77 000 (36000) (26000) Payment Of liab. (240 000) (240 000) Balances 45 000 30 000 77 000 (36000) (26000) Right of Offset (30 000) (30 000) Balances 45 000 77 000 (6 000) (26000) Investment Of bantilles& lerin 6 000 25 000 Balances 76 000 77 000 (1 000) Deficiency Absorb by Aparece (333) (667) 1 000 Balances 76 667 76 667 (667) Right of offset ` 667 Balances76 667 76 667
Relatorres, Camille Kessey, E. Problem 1 Arenas, Dulay and Laurante Statement of Liquidation June 30, 2015 Cash Non-Cash Liabilities Arenas, Capital Dulay, Capital Laurante, Capital Assets P/L ratio 1/3 1/3 1/3 Balances before Liquidation 50000 2350000 400000 900000 500000 600000 Sale of non-cash Assets 2650000 (2350000) 100000 100000 100000 Balance 2700000 400000 1000000 600000 700000 Payment of liabilities (400000) (400000) Balance 2300000 1000000 600000 700000 Payment to partners (2300000) (1000000) (600000) (700000)
2015 June 30 Cash 2650000 Gain on realization 300000 Non-cash assets 2350000 Sale of non-cash assets.
/ Gain on Realization 300000 Arenas, Capital 100000 Dulay, Capital 100000 Laurante, Capital 100000 Distribution of gain on realization to partners.
/ liabilities 400000 Cash 400000 Payment of liabilities.
/ Arenas, Capital 1000000 Dulay, Capital 600000 Laurant, Capital 700000 Cash 2300000 Distribution of cash to partners.
Problem 3 2015 June 30 cash 1133700 Gain on realization 48320 Merchandise inventory 612300 Other assets 472680 Sale of non-cash asssets.
/ gain on realization 48720 Gulane, Capital 19488 Tormis, Capital 19488 Sailadin, Capital 9744 Distribution of gain on realization to partners.
/ accounts payable 131350 Cash 131350 Payment of liabilities. / Gulane, Capital 581088 Tormis, Capital 456288 Sailadin, Capital 384144 Cash 1421520 Distribution of cash to partners.
Problem 8 Partnership capital 150000+70000=220000+(60000)=160000 Soria, Capital 150000+(30000)=120000 Paras, Capital 70000+(30000)=40000 1. 60000 2. The partners should divide loss or gain equally. 3. Soria,capital 120000 Paras, capital 40000
Problem 11 ABL Partnership Statement of Liquidation December 1, 2015
Cash A/R Inventories Property & A/P Loans aparece, bantilles, lerin Equipment Payable capital capital capital P/L ratio 20 40 40 Balance prior to Liquidation 25000 75000 100000 300000 240000 30000 120000 50000 60000 Sale of non-cash Assets 260000 (75000) (100000) (300000) (43000) (86000) (86000) balances 285000 240000 30000 77000 (36000) (26000) payment of liabilities (240000) (240000) balance 45000 (30000) 30000 right of offset 77000 6000 (26000) balance 45000 investment of Bantilles 6000 (6000) balance 51000 77000 (26000) Investment of lerin 25000 25000 balance 76000 77000 (1000) deficiency absorbed by solvent partners (333) (667) 1000 balances 76000 76667 (667) add 667 667 balance 76667 76667 payment to partners (76667) (76667)
Relatorres, Camille Kessey, E. Problem 1 Arenas, Dulay and Laurante Statement of Liquidation June 30, 2015 Cash Non-Cash Liabilities Arenas, Capital Dulay, Capital Laurante, Capital Assets P/L ratio 1/3 1/3 1/3 Balances before Liquidation 50000 2350000 400000 900000 500000 600000 Sale of non-cash Assets 2650000 (2350000) 100000 100000 100000 Balance 2700000 400000 1000000 600000 700000 Payment of liabilities (400000) (400000) Balance 2300000 1000000 600000 700000 Payment to partners (2300000) (1000000) (600000) (700000)
2015 June 30 Cash 2650000 Gain on realization 300000 Non-cash assets 2350000 Sale of non-cash assets.
/ Gain on Realization 300000 Arenas, Capital 100000 Dulay, Capital 100000 Laurante, Capital 100000 Distribution of gain on realization to partners.
/ liabilities 400000 Cash 400000 Payment of liabilities.
/ Arenas, Capital 1000000 Dulay, Capital 600000 Laurant, Capital 700000 Cash 2300000 Distribution of cash to partners.
Problem 3 2015 June 30 cash 1133700 Gain on realization 48320 Merchandise inventory 612300 Other assets 472680 Sale of non-cash asssets.
/ gain on realization 48720 Gulane, Capital 19488 Tormis, Capital 19488 Sailadin, Capital 9744 Distribution of gain on realization to partners.
/ accounts payable 131350 Cash 131350 Payment of liabilities. / Gulane, Capital 581088 Tormis, Capital 456288 Sailadin, Capital 384144 Cash 1421520 Distribution of cash to partners.
Problem 8 Partnership capital 150000+70000=220000+(60000)=160000 Soria, Capital 150000+(30000)=120000 Paras, Capital 70000+(30000)=40000 1. 60000 2. The partners should divide loss or gain equally. 3. Soria,capital 120000 Paras, capital 40000
Problem 11 ABL Partnership Statement of Liquidation December 1, 2015
Cash A/R Inventories Property & A/P Loans aparece, bantilles, lerin Equipment Payable capital capital capital P/L ratio 20 40 40 Balance prior to Liquidation 25000 75000 100000 300000 240000 30000 120000 50000 60000 Sale of non-cash Assets 260000 (75000) (100000) (300000) (43000) (86000) (86000) balances 285000 240000 30000 77000 (36000) (26000) payment of liabilities (240000) (240000) balance 45000 (30000) 30000 right of offset 77000 6000 (26000) balance 45000 investment of Bantilles 6000 (6000) balance 51000 77000 (26000) Investment of lerin 25000 25000 balance 76000 77000 (1000) deficiency absorbed by solvent partners (333) (667) 1000 balances 76000 76667 (667) add 667 667 balance 76667 76667 payment to partners (76667) (76667)
PROBLEM # 1 Arenas, Dulay and Laurente Partnership Statement of Liquidation June 30, 2015
Cash Non- Cash Assets Liabilities Arenas, Capital Dulay, Capital Laurente, Capital P/L Percentages 1/3 1/3 1/3 Balances before Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000 Sales of Non-Cash Assets and Distribution of Gains
2,650,000
(2,350,000)
100,000
100,000
100,000 Balances Payment Of Liabilities 2,700,000
(400,000) 400,000
(400,000) 1,000,000 600,000 700,000 Balances Payments to Partners 2,300,000
(2,300,000) 1,000,000
(1,000,000) 600,000
(600,000) 700,000
(700,000)
Date Account Title Debit Credit June 30, 2015 Cash Gain On Realization Non- Cash Assets Sales of Non- Cash Assets. 2,650,000 300,000 2,350,000 Gain on Realization Arenas, Capital Dulay, Capital Laurente, Capital Distribution of gain on realization to partners 300,000 100,000 100,000 100,000 Liabilities Cash Payment of the Liabilities. 400,000 400,000 Arenas, Capital Dulay, Capital Laurente, Capital Cash Distribution of cash to the partners. 1,000,000 600,000 700,000
2,300,000
PROBLEM # 2 Gulane, Tormis, and Sailadin Partnership Date Account Title Debit Credit June 30, 2015 Cash Loss on Realization Merchandise Inventory Sales of Merchandise Inventory 582,800 25, 500
612, 300 Cash Gain on Realization Other Assets Sales of Other Assets. 550, 000 78, 220 472, 680 Gains on Realization Loss on Realization Gulane, Capital Tormis, Capital Sailadin, Capital Distribution of Gains and Loss on Realization. 78, 220 25, 500 19, 488 19, 488 9,744 Accounts Payable Cash Payment of Liabilities. 131, 350 131, 350 Gulane, Capital Tormis, Capital Sailadin, Capital Cash Payment to Partners.
Legua, John Joseph F. BSA- 1 PROBLEM # 3 Romulo Soria and Elizabeth Paras Partnership
1. What is the amount of loss or gain on realization? Soria, Capital: P 150,000 Paras, Capital: 70,000 Balance: 220,000 Cash after Realization and Payment of Liabilities: 160,000 Gain/Loss: (40,000)
2. How should the loss or gain be divided between the partners?
Since partners have an agreed ratio which is to divide profits and losses equally, each partner will have half of the total loss incurred. 3. How much cash should be distributed to each partner? Soria, Capital Paras, Capital Capital Balances Before Equalization: 150, 000 70,000 Distribution of Loss: (40,000 x ½) (20,000) (20,000) Cash Distribution: 130,000 50,000
PROBLEM # 4 Aparece, Bantilles, and Lerin Partnership Statement of Liquidation December 31, 2015
Cash Non- Cash Assets Liabilities Loans, Bantilles Aparece, Capital Bantilles, Capital Lerin, Capital P/L Percentages 20 40 40 Balances before Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000 Sales of Non-Cash Assets and Distribution of Gains
260,000
(475,000)
(43,000)
(86,000)
(86,000) Balances Payment Of Liabilities 285,000
(240,000) 240,000
(240,000) 30,000 77,000 (36,000) (26,000) Balances Right of Offset by Bantilles 45,000 30,000
Arenas, Dulay and Laurante Statement of Liquidation June 30, 2015
Cash Non-Cash Assets Liabilities Arenas, Capital Dulay, Capital Laurante, Capital Profit and Loss Ratio 1/3 1/3 1/3 Balances Prior to Liquidation P 50,000 P 2,350,000 P 400,000 P 900,000 P 500,000 P 600,000 Sale of Non-Cash Assets 2,650,000 (2,350,000) 100,000 100,000 100,000 Balances P 2,700,000 P 400,000 P 1,000,000 P 600,000 P 700,000 Payment of Liabilities ( 400,000) ( 400,000) Balances P 2,300,000 P 1,000,000 P 600,000 P 700,000 Payments to Pratners 2,300,000 (1,000,000) ( 600,000) ( 700,000)
Journal Entries :
(1) 2015 June 30 Cash 2,650,000 Gain on Realization 300,000 Non-Cash Assets 2,350,000 Sale of non-cash assets.
(2) / Gain on Realization 300,000 Arenas, Capital 100,000 Dulay, Capital 100,000 Laurante, Capital 100,000 Distribution of gain on realization to partners. (3) / Liabilities 400,000 Cash 400,000 Payment of liabilities.
(4) / Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurante, Capital 700,000 Cash 2,300,000 Distribution of partnership cash to partners.
2015 June 30 Cash 1,133,700 Gain on Realization 48,720 Merchandise Inventory 612,300 Other Assets 472,680 Sale of non-cash assets
/ Gain on Realization 48,720 Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capial 9,744 Distribution of gains on realization to partners.
/ Accounts Payable 131,350 Cash 131,350 Payment of liabilities.
/ Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capial 348,144 Cash 1,421,520 Distribution of partnership cash to parters.
PROBLEM # 8 Answers: (1) What is the amount of loss or gain on realization? Answer: P 60,000 (*P 220,000 - P160,000= P60,000)
(2) How should the loss or gain be divided between partners? Answer: According to their profit and loss agreement which is equally ( 50% and 50% respectively)
(3) How much cash should be distributed to each partner? Answer: P 120,000 and P 40,000 , respectively.
ABL Partnership Statement of Liquidation December 1, 2015
Cash Non-Cash Accounts Loans Aparece, Capital Bantilles, Capital Lerin, Capital Assets Payable Payable P/L Ratio 20% 40% 40% Balances prior to Liquidation P25,000 P 475,000 P 240,000 P 30,000 P 120,000 P 50,000 P 60,000 Sale of Non-Cash Assets 260,000 ( 475,000) ( 43,000) ( 86,000) ( 86,000) Balances P 285,000 P 240,000 P 30,000 P 77,000 (P 36,000) (P 26,000) Payment of Liabilities (240,000) (240,000) Balances P 45,000 P 30,000 P 77,000 (P 36,000) (P 26,000) Right of Offset (30,000) 30,000 Balances P 45,000 P 77,000 (P 6,000) (P 26,000) Investment of Bantilles 6,000 6,000 Balances P 51,000 P 77,000 (P 26,000) Investment of Lerin 25,000 25,000 Balances P 76,000 P 77,000 (P 1,000) Deficiency ab- sorbed by Aparece and Bantilles (333) (P 667) 1,000 Balances P 76,000P 76,667 (P 667) Additional Investment 667 667 Balances P 76,667 P 76,667 Payments to Partners (76,667) (76,667)
FLORENDO,ALDWIN Q. BSA-1A (page 1) Problem#1 Arenas, Dulay and Laurente Statement of Liquidation June 30,2015 Cash Non-cash Assets Liabilities Arenas, Capital Dulay, Capital Laurente, Capital
Before 50,000 2,350,000 400,000 900,000 500,000 600,000 Liquidation
Sale Of Non-Cash assets and 2,650,000 (2,350,000) 100,000 100,000 100,000 Distribution of Gain
Payment of (400,000) (400,000) liabilities =========
JE: Cash 2,650,000 Gain on Realization 300,000 Non-Cash assets 2,350,000 Sale of non-cash assets.
Gain on realization 300,000 Arenas, Capital 100,000 Dulay, Capital 100,000 Laurente, Capital 100,000 Distribute gain on realization of non-Cash assets.
Liabilities 400,000 Cash 400,000 Payment of liabilities.
Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurente, Capital 700,000 Cash 2,300,000 Distribution of cash to the partners. Problem#3 Cash 582,800 Loss on realization 29,500 Merchandise inventory 612,300 Sale of merchandise inventory
Gulane, Capital 11,800 Tormis, Capital 11,800 Sailadin, Capital 5,900 Loss on Realization 29,500 Distribute loss on realization.
Cash 550,900 Gain on Realization 78,220 Other Assets 472,680 Sale of other assets.
Gain on realization 78,220 Gulane, Capital 31,228 Tormis, Capital 31,228 Sailadin, Capital 15,644 Distribute gain on realization.
Accounts payable 131,350 Cash 131,350 Payment of liabilities.
Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520 Distribution of cash to the partners.
Problem #1 1.) Cash 2,650,000 Gain on Realization 300,000 Non-Cash Assets 2,350,000 2.) Gain on Realization 300,000 Arenas, Capital 100,000 Dulay, Capital 100,000 Laurente Capital, 100,000 3.) Liabilities 400,000 Cash 400,000 4.) Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurente, Capital 700,000 Cash 2,300,000
Arenas, Dulay and Laurente Statement of Liquidation June 30, 2015
Cash Non-Cash Liabilities Arenas, Dulay, Laurente Assets Caputal Capital Capital Division of P/L 1/3 1/3 1/3 Balances before Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000 Sale of Non-'Cash Assets & Distri- bution of Gain 2,650,000 (2,350,000) 100,000 100,000 100,000 -----------—---——--------------------------------------------------------------------- Balances 2,700,000 ------------- 400,000 1,000,000 600,000 700,000 Payment of Liabilities (400,000) (400,000) ---------------------------------------------------------------------------------------
Problem #3 1.) Cash 1,133,700 Gain on Realization 48,720 Non-Cash 1,084,980 2.) Gain on Realization 48,720 Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capita 9,744 3.) Liabilities 131,350 Cash 131,350 4.) Gulane, Capital 581,088 Tormis,Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520
Problem #8 1.) Loss in Realization : 60,000 2.) Equally Soria 60,000 * 50% : 30,000 Paras 60,000 * 50% : 30,000 3.) Soria, Capital 120,000 Paras, Capital 40,000
Aparece, Bantilles, & Lerin Statement of Liquidation December 10, 2015
Cash Non-Cash Liabilities Aparece, Bantilles, Lerin, Assets Capital Capital Capital P/L Percentage 20% 40% 40% Balances before Liquidation 25,000 475,000 270,000 120,000 50,000 60,000 Sale of Non- cash Assets 260,000 (475,000) (43,000) (86,000) (86,000) -------------------------------------------------------------------------------------- Balances 285,000 ----------- 270,000 77,000 (36,000) (26,000) Payment of Liabilities (270,000) (270,000) --------------------------------------------------------------------------------------- Balances 15,000 ----------- 77,0000 (36,000) (26,000) Additional Investment by Bantilles & Lerin 62,000 36,000 26,000 --------------------------------------------------------------------------------------- Balances 77,000 77,000 -------------------------- Payments to Partner (77,000) (77,000) ---------- ---------- ---------- ---------- Noemi Trisha N. Diolola
Problem #1 1.) Cash 2,650,000 Gain on Realization 300,000 Non-Cash Assets 2,350,000
2.) Gain on Realization 300,000 Arenas, Capital 100,000 Dulay, Capital 100,000 Laurente Capital, 100,000 3.) Liabilities 400,000 Cash 400,000 4.) Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurente, Capital 700,000 Cash 2,300,000
Arenas, Dulay and Laurente Statement of Liquidation June 30, 2015
Cash Non-Cash Liabilities Arenas, Dulay, Laurente Assets Caputal Capital Capital Division of P/L 1/3 1/3 1/3 Balances before Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000 Sale of Non-'Cash Assets & Distri- bution of Gain 2,650,000 (2,350,000) 100,000 100,000 100,000 -----------—---——--------------------------------------------------------------------- Balances 2,700,000 ------------- 400,000 1,000,000 600,000 700,000 Payment of Liabilities (400,000) (400,000) ---------------------------------------------------------------------------------------
Problem #3 1.) Cash 1,133,700 Gain on Realization 48,720 Non-Cash 1,084,980 2.) Gain on Realization 48,720 Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capita 9,744 3.) Liabilities 131,350 Cash 131,350 4.) Gulane, Capital 581,088 Tormis,Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520
Problem #8 1.) Loss in Realization : 60,000 2.) Equally Soria 60,000 * 50% : 30,000 Paras 60,000 * 50% : 30,000 3.) Soria, Capital 120,000 Paras, Capital 40,000
Aparece, Bantilles, & Lerin Statement of Liquidation December 10, 2015
Cash Non-Cash Liabilities Aparece, Bantilles, Lerin, Assets Capital Capital Capital P/L Percentage 20% 40% 40% Balances before Liquidation 25,000 475,000 270,000 120,000 50,000 60,000 Sale of Non- cash Assets 260,000 (475,000) (43,000) (86,000) (86,000) -------------------------------------------------------------------------------------- Balances 285,000 ----------- 270,000 77,000 (36,000) (26,000) Payment of Liabilities (270,000) (270,000) --------------------------------------------------------------------------------------- Balances 15,000 ----------- 77,0000 (36,000) (26,000) Additional Investment by Bantilles & Lerin 62,000 36,000 26,000 --------------------------------------------------------------------------------------- Balances 77,000 77,000 -------------------------- Payments to Partner (77,000) (77,000) ---------- ---------- ---------- ----------
ENTRIES: 1. Cash 2,650,000 Non-cash assets 2,350,000 Gain on realization 300,000 Sale of all non-cash assets. 2. Gain on realization 300,000 Arenas,cap 100,000 Dulay,cap 100,000 Laurente,cap 100,000 Distribution of gain on realization. 3. Liabilities 400,000 Cash 400,000 Payment of liabilities. 4. Arenas,cap 1,000,000 Dulay,cap 600,000 Laurente,cap 700,000 Cash 2,300,000 Distribution of cash to partners.
PROBLEM #3 1. Cash 582,800 Loss on realization 29,500 Merchandise inventory 612,300 Sale of merchandise inventory.
Cash 550,900 Other assets 472,680 Gain on realization 78,220 Sale of other assets. 2. Gulane,cap 11,800 Tormis,cap 11,800 Sailadin,cap 5,900 Loss on realization 29,500 Distribution of loss on realization.
Gain on realization 78,200 Gulane,cap 31,288 Tormis,cap 31,288 Sailadin,cap 15,644 ` distribution of gain on realization. 3. Liabilities 131,350 Cash 131,350 Payment of liabilities. 4. Gulane,cap 581,088 Tormis,cap 456,288 Sailadin ,cap 384,144 Cash 1,421,520 Distribution of cash to the partners.
PROBLEM#8 1. Cash bal: 160,000 Less:Sonia,cap 150,000 Paras,cap 70,000 Loss on realization: (60,000)
ENTRIES: 1. Cash 2,650,000 Non-cash assets 2,350,000 Gain on realization 300,000 Sale of all non-cash assets. 2. Gain on realization 300,000 Arenas,cap 100,000 Dulay,cap 100,000 Laurente,cap 100,000 Distribution of gain on realization. 3. Liabilities 400,000 Cash 400,000 Payment of liabilities. 4. Arenas,cap 1,000,000 Dulay,cap 600,000 Laurente,cap 700,000 Cash 2,300,000 Distribution of cash to partners.
PROBLEM #3 1. Cash 582,800 Loss on realization 29,500 Merchandise inventory 612,300 Sale of merchandise inventory.
Cash 550,900 Other assets 472,680 Gain on realization 78,220 Sale of other assets. 2. Gulane,cap 11,800 Tormis,cap 11,800 Sailadin,cap 5,900 Loss on realization 29,500 Distribution of loss on realization.
Gain on realization 78,200 Gulane,cap 31,288 Tormis,cap 31,288 Sailadin,cap 15,644 ` distribution of gain on realization. 3. Liabilities 131,350 Cash 131,350 Payment of liabilities. 4. Gulane,cap 581,088 Tormis,cap 456,288 Sailadin ,cap 384,144 Cash 1,421,520 Distribution of cash to the partners.
PROBLEM#8 1. Cash bal: 160,000 Less:Sonia,cap 150,000 Paras,cap 70,000 Loss on realization: (60,000)
Cash 582 800 Gulane, Capital 11 800 Tormis, Capital 11 800 Sailadin, Capital 5 900 Merchandise Inventory 612 300 Sale of inventory and distribution of loss on realization
Cash 550 900 Other Assets 472 680 Gulane, Capital 31 288 Tormis, Capital 31 288 Sailadin, Capital 15 644 Sale of other assets and distribution of gain on realization.
Acconts Payable 131 350 Cash 131 350 Payment of Liabilities.
Gulano, Capital 568 608 Tormis, Capital 568 608 Sailadin, Capital 2840304 Cash 1 421 520 Distribution of Cash. ----------------------------------------------------- Problem # 8:
1. Cash to be distributed 160 000 less: Total Capital (220 000) ________ Realization (loss) (60 000)
2. Soria, Capital 30 000 Paras, Capital 30 000 Loss on Realization 60 000 Distribution of Loss on realization.
3. Soria: 160 000 x 50% = 80 000 Paras: 160 000 x 50% = 80 000 ----------------------------------------------------- Problem # 11:
ABL Partnership statement of Liquidation Dec. 31, 2014
#1 Arenas, Dulay and Laurente Statement of Liquidation June 30, 2015
Cash Non-cash Liabilities Arenas Dulay Laurente Assets Balances before 50000 23500000 400000 900000 500000 600000 Liquidation Sake of Non-cash 2650000 (2350000) 100000 100000 100000 Assets and Distribution of gain _______ _________ _________ ______ _______ ________ Balances 2700000 - 400000 1000000 600000 700000 Payment of Liabilites (400000) (400000) ________ _________ _______ _______ _______ Balances 2300000 - 1000000 600000 700000 Payment to (2300000) (1000000)(600000) (700000) Partners ======== ======== ======= ======
June 30 Cash 265000 Non-Cash Assets 2350000 Gain on Realization 300000 Sale of Non-cash Assets Gain on Realization 300000 Arenas, Capital 100000 Dulay, Capital 100000 Laurente, Capital 100000 Distribution of gain on realization Liabilities 400000 Cash 400000 Payment of liabilites Arenas, Capital 1000000 Dulay, Capital 600000 Laurente, Capital 700000 Cash 2300000 Distribution of cash to partners #3 Cash 1133700 Non-cash Assets 1084980 Gain on Realization 48720 Sale of Non- cash Assets
Gain on Realization 48720 Gulane, Capital 19488 Tormis, Capital 19488 Sailadin, Capital 9744 Distribution of gain on realization Accounts Payable 131350 Cash 131350 Payment of Liabilities Gulane, Capital 581088 Tormis, Capital 456288 Sailadin, Capital 384144 Cash 1421520 Distribution of cash to partners
Problem-8. 1.150,000 + 70,000 + n = 160,000 220,000 + n = 160,000 220,000 - 160,000 = n 60,000 = n loss on realization ====== 2. equally 3. Romulo Soria 150,000-30,000=120,000 ======
Arenas ,Dulay, and Laurente Partnership Statement of Liquidation June 30, 2015
Cash Non-Cash Asset Liabilities Arenes, Capital Dulay , Capital Laurente, Capital *Profit and Loss ratio *Balances before Liquidation *Sale of Non-Cash Asset *Balances *Payment of Liability *Balances *Payment to partners
1. Cash 260,000 Loss on Realization 215,000 Non-Cash Asset 475,000
Aparece, Capital 86,000 Bantilles, Capital 86,000 Lerin, Capital 43,000 Loss on Realization 215,000 2. Liabilities 240,000 Cash 240,000 3. Loans Payable 30,000 Bantilles, Capital 30,000
4. Cash 32,000 Bantilles, Capital 6,000 Lerin, Capital 26,000
5. Aparece, Capital 77,000 Cash 77,000
ABL Partnership Statement of Liquidation December 1, 2015
Cash Non-Cash Assset Liabilities Loans Payable-Bantilles Aparece, Capital Bantilles, Capital Lerin, Capital *Profit and Loss ratio *Balance Before Liquidation *Sale of Non-Cash Asset *Balances *Payment of Liabiliity *Balances *Right of Offset *Balances *Investment of Partners *Balance *Payment to Partners 25,000
Problem #1 Arenas, Dulay and Laurante Statement of Liquidation June 30, 2015 Cash Non-Cash Assets Liabilities Arenas, Capital Dulay, Capital Laurante, Capital P/L Ratios 2/6 2/6 2/6 Balance before Liquidation P 50,000 P 2,350,000 P 400,000 P 900,000 P 500,000 P 600,000 Sale of Non-Cash Assets and Distribution Gain 2,650,000 (2,350,000) - 100,000 100,000 100,000 Balances P 2,700,000 P400,000 P 1,000,000 P 600,000 P 700,000 Payments of Liabilities to Outsiders (400,000) (400,000) - - - Balances P 2,300,000 P1,000,000 P 600,000 P 700,000 Payments to Partners (2,300,000) (1,000,000) (P 600,000) (700,000)
1. Cash 2,650,000 Non-Cash Assets 2,350,000 Gain on Realization 300,000 To record the sale of non-cash assets.
2. Gain on Realization 300,000 Arenas, Capital 100,000 Dulay, Capital 100,000 Laurante, Capital 100,000 To record the distribution of gain on realization to the partners.
3. Liabilities 400,000 Cash 400,000 To record the payment of the liabilities.
4. Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurante, Capital 700,000 Cash 2,300,000 To record the distribution of cash to the partners.
Problem #3 Cash 582,800 Loss on Realization 29,500 Merchandise Inventory 612,300 To record the sale of merchandise inventory.
Gulane, Capital 11,800 Tormis, Capital 11,800 Sailadin, Capital 5,900 Loss on Realization 29,500 To record the distribution of loss on realization to the partners.
Cash 550,900 Other Assets 472,680 Gain on Realization 78,220 To record the sale of other assets.
Gain on Realization 78,220 Gulane, Capital 31,288 Tormis, Capital 31,288 Sailadin, Capital 15,644 To record the distribution of gain on realization to the partners.
Liabilities 131,350 Cash 131,350 To record the payment of liabilities.
Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520 To record the distribution of cash to partners.
Entries: 1. 3. Cash 2,650,000 Liabilities 400,000 Non-cash Assets 2,350,000 Cash 400,000 Gain on realization 300,000
4. 2. Arenas, Capital 1,000,000 Gain on realization 300,000 Dulay, Capital 600,000 Arenas, Capital 100,000 Laurente, Capital 700,000 Dulay, Capital 100,000 Cash 2,300,000 Laurente, Capital 100,000
PROBLEM #3: REQUIRED: 1.Sale of non-cash asset 2.
Cash 582,800 Gulane, Capital 11,800 Loss on realization 29,500 Tormis, Capital 11,800 Merchandise Inventory 612,300 Sailadin, Capital 5,900 Loss on realization 29,500 Cash 550,900 Gain on realization 78,220 Gain on realization 78,220 Other Assets 472,680 Gulane, Capital 31,288 Tormis, Capital 31,288 Sailadin, Capital 15,644
3. 4. Accounts Payable 131,350 Gulane, Capital 581,088 Cash 131,350 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520
PROBLEM #8:
REQUIRED:
1. 2. ANSWER: Loss on realization-60,000 ANSWER: Equally; because it is the P/L ratio written in the book. Soria, Capital 30,000 Paras, Capital 30,000 Loss on realization 60,000 3. ANSWER: Soria, Capital 120,000 Paras, Capital 40,000 Cash 160,000
Submitted by: Aigie Grace M. Salvatierra BSA 1-B Page 1 of 2
Problem #3 Cash 582,800 Loss on Realization 29,500 Merchandise Inventory 612,300 To record the sale of merchandise inventory.
Gulane, Capital 11,800 Tormis, Capital 11,800 Sailadin, Capital 5,900 Loss on Realization 29,500 To record the distribution of loss on realization to the partners.
Cash 550,900 Other Assets 472,680 Gain on Realization 78,220 To record the sale of other assets.
Gain on Realization 78,220 Gulane, Capital 31,288 Tormis, Capital 31,288 Sailadin, Capital 15,644 To record the distribution of gain on realization to the partners.
Liabilities 131,350 Cash 131,350 To record the payment of liabilities.
Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520 To record the distribution of cash to partners.
Problem #8 1. S, Capital P, Capital Total Capital Cash Balance P 150,000+ P 70,000= P 220,000 - P 160,000 = P 60,000 Loss on Realization
2. According to the problem, P/L are shared equally, so: Partners Soria Paras Capital Balances P 150,000 P 70,000 Loss on Realization (30,000) (30,000) Balances P 120,000 P 40,000
3. Soria, Capital 120,000 Paras, Capital 40,000 Cash 160,000 To record the distribution of cash.
Problem #11 ABL Partnership Statement of Liquidation December 31, 2015 Cash Non-Cash Assets Accounts Payable Loan Payable-Bantilles Aparece, Capital Bantilles, Capital Lerin, Capital P/L Percentages 20% 40% 40% Balance before Liquidation P 25,000 P 475,000 P 240,000 P 30,000 P 120,000 P 50,000 P60,000 Sale of Non-Cash Assets and Distribution of Losses 260,000 (475,000) - - (43,000) (86,000) (86,000) Balances P 285,000 P240,000 P 30,000 P 77,000 (P 36,000) (P 26,000) Payments of Liabilities to Outsiders (240,000) (240,000) - - - - Balances P 45,000 P 30,000 P 77,000 (P 36,000) (P 26,000) Right of Offset by Bantilles - (30,000) - 30,000 - Balances P 45,000 P 77,000 (6,000) (26,000) Additional Investments by Bantilles and Lerin from their Personal Assets 31,000 - 6,000 25,000 Balances P 76,000 P 77,000 ( P1,000) Additional Losses to Aparece - (1,000) 1,000 Balances P 76,000 P 76,000 Payments to Remaining Partner (76,000) (76,000)
1. Cash 260,000 Loss on Realization 215,000 Non-Cash Asset 475,000
Aparece, Capital 86,000 Bantilles, Capital 86,000 Lerin, Capital 43,000 Loss on Realization 215,000 2. Liabilities 240,000 Cash 240,000 3. Loans Payable 30,000 Bantilles, Capital 30,000
4. Cash 32,000 Bantilles, Capital 6,000 Lerin, Capital 26,000
5. Aparece, Capital 77,000 Cash 77,000
ABL Partnership Statement of Liquidation December 1, 2015
Cash Non-Cash Assset Liabilities Loans Payable-Bantilles Aparece, Capital Bantilles, Capital Lerin, Capital *Profit and Loss ratio *Balance Before Liquidation *Sale of Non-Cash Asset *Balances *Payment of Liabiliity *Balances *Right of Offset *Balances *Investment of Partners *Balance *Payment to Partners 25,000
Go Yvette Problem # 1 1. Cash 2 650 000 Non-cash assets 2 350 000 Gain on realization 300 000 Sale of all non-cash assets. 2. Gain on realization 300 000 Arenas, capital 100 000 Dulay, capital 100 000 Laurente, capital 100 000 Distribution of gain on realization. 3. Liabilities 400 000 Cash 400 000 Payment of liabilities. 4. Arenas, capital 1 000 000 Dulay, capital 600 000 Laurente, capital 700 000 Cash 2 300 000 Distribution of cash.
Problem #3 1. Cash 1 133 700 Non-cash assets 1 084 980 Gain on realization 248 720 Sale of all non-cash assets. 2. Gain on realization 248 720 Gulane, capital 99 488 Tormis, capital 99 488 Sailadin, capital 49 744 Distribution of gain on realization. 3. Liabilities 131 350 Cash 131 350 Payment of liabilities. 4. Gulane, capital 664 088 Tormis, capital 539 288 Sailadin, capital 424 144 Cash 1 422 120 Distribution of cash. Problem # 8 1. 60 000 2. Gain on realization 60 000 Soria, capiatal 30 000 Paras, capital 30 000 Distribution of gain on realizarion. 3. Soria, capital 120 000 Paras, capital 40 000 Cash 160 000 Distribution of cash.
Problem 1 1.Cash 2,650,000 Gain of Realization 300,000 Non-Cash Assets 2,350,000 Sale of Non-Cash Assets 2.Gain of Realization 300,000 Arenas,Capital 100,000 Dulay,Capital 100,000 Laurente,Capital 100,000 Distribution of gain realization to partners 3.Liabilities 400,000 Cash 400,000 Payment of Liabilities 4.Arenas,Capital 766,667 Dulay,Capital 766,666 Laurente,Capital 766,667 Cash 2,300,00 Distribution of cash to partners
Problem 3 1.Cash 582,800 Loss of Realization 29,500 Merchandise Inventory 612,300 Sale of Merchandise Inventory -Cash 550,900 Gain of Realization 78,220 Other Assets 472,680 Sale of Other Assets 2.Gulane,Capital 11,800 Tormis,Capital 11,800 Sailadin,Capital 5,900 Loss of Realization 29,500 Distribution of loss realization to partners -Gain of Realization 78,220 Gulane,Capital 31,228 Tormis,Capital 31,228 Sailadin,Capital 15,644 Distribution of gain realization to partners 3.Accouts Payable 131,250 Cash 131,250 Payment of Liabilities 4.Gulane,Capital 568,608 Tormis,Capital 568,608 Sailadin,Capital 284,304 Cash 1,421,520 Distribution of cash to partners Problem 8 1.150,000+70,000=220,000 (160,000)=60,000--> Gain of Realization 2.60,000/2=30,000--> Gain of Realization divided between the partners 3.160,000/2=80,000-->Cash to be distributed to partners
Problem 11 ABL Partnership Statement of Liquidation December 1,2015
Cash Non-Cash Liabilities B, A, B, L, Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40% Balances before Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000 Sale of NCA and Dist. of Loss 260,000 (475,000) (43,000) (86,000) (86,000) Balances 285,000 240,000 30,000 77,000 (36,000) (26,000) Payment of Liabilities (240,000) (240,000) BalanceS 45,000 30,000 77,000 (36,000) (26,000) Right of Offset by Bantilles (30,000) 30,000 Balances 45,000 77,000 (6,000) (26,000) Additional investment by b 6000
Balances 51,000, 77000, 0 , (26000) Additional investment by L 25000 Balances 76000 , 77000, 0 , (1000) Additional investment by a and b. A = 333 B = 667 Balances 77000 , a capital 77000
Aparece Bantilles Lerin Personal Assets 250,000 300,000 & 350,000 Less: Personal Liabilities 230,000 240,000 325,000 Excess (Deficit) 19667 54000 0
---Sir amo adi it tuod kay nak Problem 11 nag sayop ak gasi ko pareho la an iba na problem sorry la po sir...Romell Belano po ito Salamat ")
Arenas, Dulay , Laurente Statement of liquidation June 30, 2015
P/L Ratio equally Balances before liquidation Arenas 900 000 Dulay 500 000 Laurente 600 000 Sale of non cash asset 2 650 000(2 350 000)= 300 000 gain Distribution of gain 100 000 100 000 100 000 Balances 1 000 000 600 000 700 000 ----------------------------------------------------------- ----------------------------------------------------------- Payment of liabilities 400 000(400 000)=0 Available cash of 2 300 000 Payment to partners 1 000 000 600 000 700 000 ------------------------------------------------------ ------------------------------------------------------ entries
June 30 Cash 2 650 000 Gain on realization 300 000 Non cash asset 2 350 000 Sold non cash assets. Gain on realization 300 000 Arenas Capital 100 000 Dulay Capital 100 000 Laurente Capital 100 000 Distribution of gain.
Liabilities 400 000 Cash 400 000 Payment of liabilities
Arenas Capital 1 000 000 Dulay Capital 600 000 Laurente Capital 700 000 Cash 2 300 000 Payment to partners.
Problem 3
June 30 Cash 1 133 700 Loss on realization 48 720 Inventory 612 300 Other assets 472 680 Sold inventory and other assets.
Gulane, Capital 19 488 Tormis, Capital 19 488 Sailadin, Capital 9744 Loss on realization 48 720 Distribution of loss.
Liabilities 131 350 Cash 131 350 Payment of liabilities.
Gulane, Capital 542 112 Tormis, Capital 417 512 Sailadin, Capital 364 656 Cash 1 324 280 Payment of inital interest.
Gulane, Capital 38 896 Tormis, Capital 38 896 Sailadin, Capital 19 488 Cash 97240 Distribution of remaining cash.
1.150,000+70,000=220,000 (160,000)=60,000--> Loss of Realization 2.60,000/2=30,000--> Loss of Realization divided between the partners 3.160,000/2=80,000-->Cash to be distributed to partners
Problem 11
ABL Partnership Statement of Liquidation December 1,2015
Cash Non-Cash Liabilities B, A, B, L, Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40% Balances before Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000 Sale of NCA and Dist. of Loss 260,000 (475,000) (43,000) (86,000) (86,000) Balances 285,000 240,000 30,000 77,000 (36,000) (26,000) Payment of Liabilities (240,000) (240,000) BalanceS 45,000 30,000 77,000 (36,000) (26,000) Right of Offset by Bantilles (30,000) 30,000 Balances 45,000 77,000 (6,000) (26,000) Additional investment by b 6000
Balances 51,000, 77000, 0 , (26000) Additional investment by L 25000 Balances 76000 , 77000, 0 , (1000) Additional investment by a and b. A = 333 B = 667 Balances 77000 , a capital 77000
Aparece Bantilles Lerin Personal Assets 250,000 300,000 & 350,000 Less: Personal Liabilities 230,000 240,000 325,000 Excess (Deficit) 19667 54000 0
Prob # 1 Date 2015 Jun 30 Cash 2650000 Non- cash asset 2350000 Gain on realization 300000 Sale of non-cash asset . ✓ Gain on realization 300000 Arenas, Capital 100000 Dulay,Capital 100000 Laurente, Capital 100000 Distribution of gain .
✓ Accounts Payable 400000 Cash 400000 Payment of liabilities .
✓ Arenas,Capital 1000000 Dulay , Capital 600000 Laurente, Capital 700000 Cash 2300000 Distribution of cash to partners .
Prob # 3 Date 2015 Jun 30 Cash 582800 Loss on realization 29500 Merchandise Inventory 612300 Sale of merchandise inventory .
✓ Gulane,Capital 11800 Tormis,Capital 11800 Sailadin, Capital 5900 Loss on realization 29500 Distribution of loss .
✓ Cash 550900 Gain on realization 78220 Other Asset 472680 Sale of other asset.
✓ Gain on realization 78220 Gulane,Capital 31288 TORMIS,Capital 31288 Sailadin,Capital 15644 Distribution of gain .
✓ Accounts Payable 131350 Cash 131350 Payment of liabilities.
Prob # 8 Soria Paras Loss on realization (220000-160000)/2 30000 30000 Capital balance of the partners 150000 70000 Total P 120000 P 40000
1. P 60000is the amount of loss. 2. P 30000 is the loss be divided between the partners . 3. P 120000 And P 40000 – the amount distributed respectively to Soria and Paras .
Prob # 1 Date 2015 Jun 30 Cash 2650000 Non- cash asset 2350000 Gain on realization 300000 Sale of non-cash asset . / Gain on realization 300000 Arenas, Capital 100000 Dulay,Capital 100000 Laurente, Capital 100000 Distribution of gain .
/ Accounts Payable 400000 Cash 400000 Payment of liabilities .
/ Arenas,Capital 1000000 Dulay , Capital 600000 Laurente, Capital 700000 Cash 2300000 Distribution of cash to partners .
Prob # 3 Date 2015 Jun 30 Cash 582800 Loss on realization 29500 Merchandise Inventory 612300 Sale of merchandise inventory .
/ Gulane,Capital 11800 Tormis,Capital 11800 Sailadin, Capital 5900 Loss on realization 29500 Distribution of loss .
/ Cash 550900 Gain on realization 78220 Other Asset 472680 Sale of other asset.
/ Gain on realization 78220 Gulane,Capital 31288 TORMIS,Capital 31288 Sailadin,Capital 15644 Distribution of gain .
/ Accounts Payable 131350 Cash 131350 Payment of liabilities.
Prob # 8 Soria Paras Loss on realization (220000-160000)/2 30000 30000 Capital balance of the partners 150000 70000 Total P 120000 P 40000
1. P 60000is the amount of loss. 2. P 30000 is the loss be divided between the partners . 3. P 120000 And P 40000 – the amount distributed respectively to Soria and Paras .
Prob # 1 Date 2015 Jun 30 Cash 2650000 Non- cash asset 2350000 Gain on realization 300000 Sale of non-cash asset . / Gain on realization 300000 Arenas, Capital 100000 Dulay,Capital 100000 Laurente, Capital 100000 Distribution of gain .
/ Accounts Payable 400000 Cash 400000 Payment of liabilities .
/ Arenas,Capital 1000000 Dulay , Capital 600000 Laurente, Capital 700000 Cash 2300000 Distribution of cash to partners .
Prob # 3 Date 2015 Jun 30 Cash 582800 Loss on realization 29500 Merchandise Inventory 612300 Sale of merchandise inventory .
/ Gulane,Capital 11800 Tormis,Capital 11800 Sailadin, Capital 5900 Loss on realization 29500 Distribution of loss .
/ Cash 550900 Gain on realization 78220 Other Asset 472680 Sale of other asset.
/ Gain on realization 78220 Gulane,Capital 31288 TORMIS,Capital 31288 Sailadin,Capital 15644 Distribution of gain .
/ Accounts Payable 131350 Cash 131350 Payment of liabilities.
Prob # 8 Soria Paras Loss on realization (220000-160000)/2 30000 30000 Capital balance of the partners 150000 70000 Total P 120000 P 40000
1. P 60000is the amount of loss. 2. P 30000 is the loss be divided between the partners . 3. P 120000 And P 40000 – the amount distributed respectively to Soria and Paras .
Problem #1 Arenas, Dulay and Laurente Statement of Liquidation June 30, 2015
Cash Non-cash Assets Liabilities Arenas Dulay Laurente P/L Ratio 45% 25% . 30% ===================== Balances before Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000 Sales of non-cash assets & distribution of gains 2,650,000 (2,350,000) 135,000 75,000 90,000 ---------------==========--------------------------------------------------------------- Balances 2,700,000 400,000 1,035,000 575,000 690,000 Payments of Liablities to outsiders (400,000) (400,000) ----------------- ========-----------------------------------------------Balances 2,300,000 1,035,000 575,000 690,000 Payments to partners (2,300,000) (1,035,000) (575,000) (690,000) ========= ===========================
June 30 Cash 2,650,000 Gain on realization 300,000 Non-cash assets 2,350,000 Sale of non-cash assets
/ Gain on realization 300,000 Arenas, Capital 135,000 Dulay, Capital 75,000 Laurente, Captal 90,000 Distribution on gain realization / Liabilities 400,000 Cash 400,000 Payment of liabilities
/ Arenas, Capital 1,035,000 Dulay, Capital 575,000 Laurente, Captal 690,000 Cash 2,300,000 Distribution of cash to partners
Problem #3 June 30 Cash 1,133,700 Gain on realization 48,720 Non-cash assets 1,084,980 Sale of non-cash asset / Gain on realization 48,720 Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capital 9,744 Distribution on gain realization / Accounts payable 131,350 Cash 131,350 Payment of liabilities / Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520 Distribution of cash to partners.
Problem #1 Arenas, Dulay and Laurente Statement of Liquidation June 30, 2015
Cash Non-cash Assets Liabilities Arenas Dulay Laurente P/L Ratio 45% 25% . 30% ===================== Balances before Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000 Sales of non-cash assets & distribution of gains 2,650,000 (2,350,000) 135,000 75,000 90,000 ---------------==========--------------------------------------------------------------- Balances 2,700,000 400,000 1,035,000 575,000 690,000 Payments of Liablities to outsiders (400,000) (400,000) ----------------- ========-----------------------------------------------Balances 2,300,000 1,035,000 575,000 690,000 Payments to partners (2,300,000) (1,035,000) (575,000) (690,000) ========= ===========================
June 30 Cash 2,650,000 Gain on realization 300,000 Non-cash assets 2,350,000 Sale of non-cash assets
/ Gain on realization 300,000 Arenas, Capital 135,000 Dulay, Capital 75,000 Laurente, Captal 90,000 Distribution on gain realization / Liabilities 400,000 Cash 400,000 Payment of liabilities
/ Arenas, Capital 1,035,000 Dulay, Capital 575,000 Laurente, Captal 690,000 Cash 2,300,000 Distribution of cash to partners
Problem #3 June 30 Cash 1,133,700 Gain on realization 48,720 Non-cash assets 1,084,980 Sale of non-cash asset / Gain on realization 48,720 Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capital 9,744 Distribution on gain realization / Accounts payable 131,350 Cash 131,350 Payment of liabilities / Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520 Distribution of cash to partners
Cash 582,800 Loss on Realization 29,500 Non-cash assets(MI) 612,300
Gulane, Capital 11,800 Tormis, Capital 11,800 Sailadin, Capital 5,900 Loss on Realization 29,500
Cash 550,900 Non-cah assets(OA) 472,680 Gain on Realization 78,220
Gain on Realization 78,220 Gulane, Capital 31,228 Tormis, Capital 31,228 Sailadin, Capital 15,644
Accounts Payable 131,500 Cash 131,500
Gulane, Capital 581,088 Tormis Capital 456,288 Sailadin Capital 384,144 Cash 1,421,520
Problem #8 1. Loss on Realization 150,000+70,000=220,000-(160,000)=60,000
2.Loss on Realization divided between the partners 60,000/2=30,000
3.Cash to be distributed to partners 160,000/2=80,000
Problem #11 ABL Partnership Statement of Liquidation December 1,2015 Cash Non-Cash Liabilities B, A, B, L, Asset Loan Capital Capital Capital P/L Ratio 20% 40% 40% Balances before Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000 Sale of NCA and Dist. of Loss 260,000 (475,000) (43,000) (86,000) (86,000) Balances 285,000 240,000 30,000 77,000 (36,000) (26,000) Payment of Liabilities (240,000) (240,000) BalanceS 45,000 30,000 77,000 (36,000) (26,000) Right of Offset by Bantilles (30,000) 30,000 Balances 45,000 77,000 (6,000) (26,000) Additional investment by b 6000
Balances 51,000, 77000, 0 , (26000) Additional investment by L 25000 Balances 76000 , 77000, 0 , (1000) Additional investment by a and b. A = 333 B = 667 Balances 77000 , a capital 77000 Aparece Bantilles Lerin Personal Assets 250,000 300,000 & 350,000 Less: Personal Liabilities 230,000 240,000 325,000 Excess (Deficit) 19667 54000 0
Part 1/2 Allyzon O. Padaon BSA1B Prob. #1 1.) June 30 Cash 2650000 Gains on realization 300000 Non-cash Assets 2350000 To record the sale of all non-cash assets.
2.) June 30 Gains on realization 300000 Arenas, Capital 100000 Dulay, Capital 100000 Laurente, Capital 100000 To record the dist. of gain on realization To the partners.
3.) June 30 Liabilities 400000 Cash 400000 To record the payment of liabilities.
4.) June 30 Arenas, Capital 1000000 Dulay, Capital 600000 Laurente, Capital 700000 Cash 2300000 To record the distribution of cash to the Partners.
Arenas, Dulay, and Laurente Statement of Liquidation June 30,2015
Cash Non-cash Liabilities Arenas, Dulay, Laurente, Assets Capital Capital Capital Bal. before liquidation 50000 2350000 400000 900000 500000 600000 Sale of all non-cash 2650000 (2350000) 100000 100000 100000 Assets & dist. of gain on realization Balance 2700000 400000 1000000 600000 700000 Payment of Liabilities (400000) (400000) Balance 2300000 1000000 600000 700000 Payment to partners (2300000) (1000000) (600000) (700000)
Prob. #3
June 30 Cash 582800 Loss in realization 29500 Merchandise Inventory 612300 To record the sale of MI. June 30 Gulane, Capital 11800 Tormis, Capital 11800 Sailadin, Capital 5900 Loss in Realization 29500 To record the distribution in the loss of realization.
June 30 Cash 550900 Gain in Realization 78220 Other Assets 472680 To record the sale of other Assets.
June 30 Gain in Realization 78220 Gulane, Capital 31288 Tormis, Capital 31288 Sailadin, Capital 15644 To record the distribution in the gain of realization.
June 30 Accounts Payable 131350 Cash 131350 To record the payment of liabilities.
June 30 Gulane, Capital 384144 Tormis, Capital 456288 Sailadin,Capital 581088 Cash 1421520 To record the distribution of cash.
Cash 2 650 000 Arenas, Capital 100 000 Dulay, Capital 100 000 Laurente, Capital 100 000 Non-cash Assets 2 350 000 Sale of non-cash asset and distribution of gain
Liabilities 400 000 Cash 400 000 Payment of liabilities
Arenas, Capital 1 000 000 Dulay, Capital 600 000 Laurente, Capital 700 000 Cash 2 300 000 Distribution of cash
Problem 3 Cash 1 133 700 Merchandise Inventory 612 300 Other assets 472 680 Gulane, Capital 19 488 Tormis, Capital 19 488 Sailadin, Capital 9 744 Sale of non-cash assets and distribution of gain
Liabilities 131 350 Cash 131 350 Payment of Liabilities
Gulane, Capital 581 088 Tormis, Capital 456 288 Sailadin, Capital 384 144 Cash 1 421 520 Distribution of Cash
1) Cash 2,650,000 Arenas, Capital 100,000 Dulay, Capital 100,000 Laurante, Capital 100,000 Non- Cash Assets 2,3500,000
2) Liabilities 400,000 Cash 400,000
3) Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurante, Capital 700,000 Cash 2,300,000 Problem #3 1) Cash 1,133,700 Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capital 9,744 Non- Cash Assets 1,084,980
2) Liabilities 131,350 Cash 131,350
3) Gulane, Capital 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520
Problem #8 1) Loss = (60,000) 2) Equally 3) Soria 120,000 ====== Paras 40,000 =====
Merilyn C. Hermosilla BSA 1A PROBLEM#1 Arenas, Dulay and Laurente Statement of Liquidation December 31, 2015 Cash NCA Liabilities A, Cap. D, Cap. L, Cap. P/L Ratio 1/3 1/3 1/3 Bal, before Liquidation 50k 2,350k 400k 900k 500k 600k SalesofNCA& dist.of Gain2,650k(2,350k) 100k 100k 100k Balances 2,700k 400k 1m 600k 700k Payment of liab. (400k) (400k) Bal. 2,300k 1m 600k 700k Payments toPartners(2,300k) (1m) (600k) ( 700k) 1. Sale of all Non-Cash Assets Cash 2,650k Non-cash assets 2,350k A, Capital 100k D, Capital 100k L, Capital 100k To record the gain of the partners. 2. Liabilities 400k Cash 400k To record payments to liabilities. 3.A, Capital 1m D, Capital 600k L, Capital 700k Cash 2,300k To record distribution of cash. PROBLEM#3 1. Sale of Non-Cash Assets Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472,680 G, Capital 19,488 T, Capital 19,488 S, Capital 9,744 To record cash and distribution of gain on realization. 2. Payments of liabilities Liabilities 131,350 Cash 131,350 To pay the liabilities. 3. Distribution of cash to the partners. G, Capital 581,088 T, Capital 456,288 S, Capital 384,144 Cash 1,421,520 To distribute cash to the partners. PROBLEM#8 1.) Cash balance: 160k Less: S,Cap. 150k P,Cap. 70k Loss on realization (60k) 2.) S, Capital :(60k)x50%=(30k) P, Capital : (60k)x50%=(30k)
3.) S.Cap. P.Cap. Bal. before Liquidation 150k 70k Loss on Realization (30k) (30k) Balance 120k 40k PROBLEM#11 Cash NCA Liabilities B.Loan A.Cap. B.Cap. L.Cap. P/L ratio 20% 40% 40% Bal. before Liquidation 25k 475k 240k 30k 120k 50k 60k Sale of NCA & dist. Of loss260k (475k) (43k) (86k) (86k) Bal. 285k 240k 30k 77k (36k) (26k) Payment of Liabilities (240k) (240k)______________________________ Bal. 45k 30k 77k (36k) (26k) Right of offset (30k) 30k Bal. 45,000 77,000 (6,000) (26,000) Add’l invest. 31,000 6,000 25,000 Bal. 76,000 77,000 (1,000) Absorption (1,000) 1,000 Bal. 76,000 76,000 Payments to Partners (76,000) (76,000)
RAMOS,A. BSA 1-A Prob. #1 A,D&L SoL 6/30/15 Cash NCA Liab A D L Bal. b4 liq. 50k 2,350k 400k 900k 500k 600k Sale of NCA& 2,650k (2,350k) 100k 100k 100k dist.of losses - - - - - Bal. 2,700k - 400k 1M 600k 700k Payment of liab(400k) (400k) - - - Bal 2,300k 1M 600k 700k Payment to partners (2,300k) (1M) (600k) (700k) 1.) Cash 2,650,000 NCA 2,350k A,Cap. 100k D,Cap 100k L,Cap. 100k To record the sale of NCA and distribution of profits. 2) GoR 300k A,Cap 100k D,Cap 100k L,Cap 100k To record the distribution of gains. 3) Liabs. 400k 4) A,Cap 1M Cash 400k D,Cap 600k To record the L,Cap 700k settlement of liabilities. Cash 2300k To record payments to partners. Prob.#3 1) Cash 1,133,700 2) Gain on realization 48,720 M.Invty 612 300 G,Cap 19 488 Other assets 472,680 T,Cap 19 488 G,Cap 19 488 S,Cap 9 744 T,Cap 19 488 To record the S,Cap 9 744 distribution of gains. To record the sale of NCA and distribution of profits. 3) A/P 131,350 4) G,Cap 581,088 Cash 131 350 T,Cap 456 288 To record the S,Cap 384 144 Settlement of liab. Cash 1 421 520 To record payments To partners. Prob.#8 1)60k 2)30k;30k 3)120k;40k Prob.#11 A,B&L SoL 12/10/15 CashA/R Invty. P&E. A/P L/P-B. A B L 2 25k 75k 100k 300k 240k 30k 120k 50k 60k 260k (75k) (100k) (300k) (43k) (86k) (86k) Bal. 285k 240k 30k77k (36k) (26k) (240k) (240k) Bal. 45k 30k 77k (36k) (26k) RoO By B. - (30k) - 30k - Bal. 45k 77k (6k) (26k) Payments to (45k) (77k) 6k 26k partners A,B&L Personal Assets 250k 300k 350k Personal Liab. 230k 240k 325k Excess 20k 60k 25k Amount rec.fr.Liq.77k (6k) (26k) Loss to creditors 0 0 0
JACQUELINE P. TADO BSA-1A Prolem # 1 Arenas, Dulay and Laurente Statement of Liquidation December 31, 2015 Cash NCA Liab. A., Cap. D., Cap. L., Cap. P/L Ratio 1/3 1/3 1/3 Bal. b4 Liquidation 50K 2,350,000 400K 900K 500K 600K Sale of NCA & Distri. of Profit 2,650,000 (2,350,000) 100K 100K 100K Bal. 2,700,000 400K 1,000,000 600K 700K Payment of Liab. (400K) (400K) Bal. 2,300,000 1,000,000 600K 700K Payment to Partner (2,300,000) (1,000,000) (600K) (700K)
1.) Sale of all NCA Cash 2,650,000 NCA 2,350,000 A., Cap. 100K D., Cap. 100K L., Cap. 100K To record cash and distribution of gain on realization. 2.) Payment of the Liab. Liab. 400K Cash 400K To pay the liabilities. 3.) Distri. of Cash to the Partners A., Cap. 1,000,000 D., Cap. 600K L., Cap. 700K Cash 2,300,000 Distribution of Cash to Partners. Problem # 3 1.) Sale of NCA Cash 1,133,700 M. Inventory 612,300 Other Assets 472,680 G., Cap. 19,488 T., Cap. 19,488 S., Cap. 9,744 To record cash and distribution of gain on realization. 2.) Payment of the Liab. Liab. 131,350 Cash 131,350 To pay the liabilities. 3.) Distri. of Cash to the Partners G., Cap. 581,088 T., Cap. 456,288 S., Cap. 384,144 Cash 1,421,520 To distribute cash to partners. Problem # 8 1.) Loss on Realization 60K 2.) Equally 3.) Soria, Cap. 120K Paras, Cap. 40K Problem # 11 Aparece, Bantilles and Lerin Statement of Liquidation December 31, 2015 Cash A/R Inventories P.&E. A/P B., Loan A., Cap. B., Cap. L., Cap. P/L Ratio 20% 40% 40% Bal. b4 Liquidation 25k 75K 100K 300K 240K 30K 120K 50K 60K Sale of NCA & Distri. of Loss 260K (75K) (100K) (300K) (43K) (86K) (86K) Bal. 285K - - 240K 30K 77K (36K) (26K) Payment of Liab. (240K) (240K) Bal. 45K 30K 77K (36K) (26K) Right of Offset - (30K) - 30K - Bal. 45K - 77K (6K) (26K) Add. Investment 31K - 6K 25K Bal. 76K 77K - (1K) Absorption - (1K) 1K Bal. 76K 76K - Payment to Partners (76K) (76K)
1.-2)CASH 2,650k 3.) Liabilities 400k Arenas,Capital 100k Cash 400k Dulay,Cap 100k To record the Laurente,Capital 100k settlement of liabilities. Non-cash assets 2,350lk To record the Selling of non-cash assets. 4.)Arenas,Capital 1,000k Dulay,Capital 600k Laurente,capital 700k Cash 2,300k To record the Payments to the partners. PROBLEMS #3 1.)Sales of Non- Cash ASSETS Cash 1,133,700 Inventory 612,300 Other Asset 472,680 Gulane, Cap 19,488 Tormis,Cap 19,488 Sailadin,Cap 9,744 To record the Selling of non-cash assets And dist. Of gain on realization. 2.)Payments of liabilities A/ P 131,350 Cash 131,350 To record the settlements of payable. 3.)Distribution of cash to partners Gulane,Capital 581,088 Tormis,Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520 To record the Payments to the partners PROBLEM#8 1.)Loss on realization: P60,000 2.)Gain should divided between partners are equally. 3.) Soria,Capital 120k Paras,Capital 40k PROBLEM#11 ABL Partnership Statement of Liquidation Dec.10,2015 CASH A/R Invty. P&E A/P L/P-B Aparece,Cap. Bantilles,Cap. Lerin,Cap. P/L% 20% 40% 40% Bal. b4liq:P25k 75k 100k 300k 240k 30k P120,000 50,000 60,000 Sale of NCA& Dist. loss: 260k(75k)(100k)(300k) (43k) (86k) (86k) BAL:285k 240k 30k 77,000 (36,000) (26,000) Payment Of liab: (240k) (240k) - - - - BAL:45,k 30k 77,000 (36,000) (26,000) Right of Offset : - - - - - (30k) - 30k - BAL:45k 77,000 (6,000) (26,000) Payment To part ners:(45k) (77k) 6k 26k
boreres, yvette r. bsa 1a PROBLEM#1 Arenas, Dulay and Laurente Statement of Liquidation December 31, 2015 Cash NCA Liab. A, Cap. D, Cap. L, Cap. P/L Ratio 1/3 1/3 1/3 Bal, before Liquidation 50k 2,350k 400k 900k 500k 600k SalesofNCA& dist.of Gain2,650k(2,350k) 100k 100k 100k Balances 2,700k 400k 1m 600k 700k Payment of liab. (400k) (400k) Bal. 2,300k 1m 600k 700k Payments toPartners(2,300k) (1m) (600k) ( 700k) 1. Sale of all Non-Cash Assets Cash 2,650k Non-cash assets 2,350k A, Cap. 100k D, Cap. 100k L, Cap. 100k To record the gain of the partners. 2 Liabilities 400k Cash 400k To record payments to liabilities. 3.A, Cap. 1m D, Cap. 600k L, Cap. 700k Cash 2,300k To record distribution of cash. PROB.#3 1. Sale of Non-Cash Assets Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472,680 G, Cap. 19,488 T, Cap. 19,488 S, Cap. 9,744 To record cash and distribution of gain on realization. 2. Payments of liabilities Liabilities 131,350 Cash 131,350 To pay the liabilities. 3. Distribution of cash to the partners. G, Capital 581,088 T, Capital 456,288 S, Capital 384,144 Cash 1,421,520 To distribute cash to the partners. PROB.#8 1.) Cash bal. : 160k Less: S,Cap. 150k P,Cap. 70k Loss on realization (60k) 2.) S, Cap. :(60k)x50%=(30k) P, Cap. : (60k)x50%=(30k)
3.) S.Cap. P.Cap. Bal. before Liquidation 150k 70k Loss on Realization (30k) (30k) Bal. 120k 40k PROB.#11 Cash NCA Liab. B.Loan A.Cap. B.Cap. L.Cap. P/L ratio 20% 40% 40% Bal. before Liquidation 25k 475k 240k 30k 120k 50k 60k Sale of NCA & dist. Of loss260k (475k) (43k) (86k) (86k) Bal. 285k 240k 30k 77k (36k) (26k) Payment of Liabilities (240k) (240k) Bal. 45k 30k 77k (36k) (26k) Right of offset (30k) 30k Bal. 45k 77k (6k) (26k) Add’l invest. 31k 6k 25k Bal. 76k 77k (1k) Absorption (1k) 1k Bal. 76k 76k Payments to Partners (76k) (76k)
Problem 1 1.Cash 2,650,000 Gain of Realization 300,000 Non-Cash Assets 2,350,000 Sale of Non-Cash Assets 2.Gain of Realization 300,000 Arenas,Capital 100,000 Dulay,Capital 100,000 Laurente,Capital 100,000 Distribution of gain realization to partners 3.Liabilities 400,000 Cash 400,000 Payment of Liabilities 4.Arenas,Capital 766,667 Dulay,Capital 766,666 Laurente,Capital 766,667 Cash 2,300,00 Distribution of cash to partners
Problem 3 1.Cash 582,800 Loss of Realization 29,500 Merchandise Inventory 612,300 Sale of Merchandise Inventory -Cash 550,900 Gain of Realization 78,220 Other Assets 472,680 Sale of Other Assets 2.Gulane,Capital 11,800 Tormis,Capital 11,800 Sailadin,Capital 5,900 Loss of Realization 29,500 Distribution of loss realization to partners -Gain of Realization 78,220 Gulane,Capital 31,228 Tormis,Capital 31,228 Sailadin,Capital 15,644 Distribution of gain realization to partners 3.Accouts Payable 131,250 Cash 131,250 Payment of Liabilities 4.Gulane,Capital 568,608 Tormis,Capital 568,608 Sailadin,Capital 284,304 Cash 1,421,520 Distribution of cash to partners Problem 8 1.150,000+70,000=220,000 (160,000)=60,000--> loss of Realization 2.60,000/2=30,000--> loss of Realization divided between the partners 3.160,000/2=80,000-->Cash to be distributed to partners Problem 11 ABL Partnership Statement of Liquidation December 1,2015 Cash Non-Cash Liabilities B, A, B, L, Asset Loan Capital Capital Capital P/L Ratio 20% 40% 40% Balances before Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000 Sale of NCA and Dist. of Loss 260,000 (475,000) (43,000) (86,000) (86,000) Balances 285,000 240,000 30,000 77,000 (36,000) (26,000) Payment of Liabilities (240,000) (240,000) BalanceS 45,000 30,000 77,000 (36,000) (26,000) Right of Offset by Bantilles (30,000) 30,000 Balances 45,000 77,000 (6,000) (26,000) Additional investment by b 6000 Balances 51,000, 77000, 0 , (26000) Additional investment by L 25000 Balances 76000 , 77000, 0 , (1000) Additional investment by a and b. A = 333 B = 667 Balances 77000 , a capital 77000 Aparece Bantilles Lerin Personal Assets 250,000 300,000 & 350,000 Less: Personal Liabilities 230,000 240,000 325,000 Excess (Deficit) 19667 54000 0
Ariane N. Gata BSA 1A PROBLEM#1 Arenas, Dulay and Laurente Statement of Liquidation December 31, 2015 Cash NCA Liabilities A, Cap. D, Cap. L, Cap. P/L Ratio 1/3 1/3 1/3 Bal, before Liquidation 50k 2,350k 400k 900k 500k 600k SalesofNCA& dist.of Gain2,650k(2,350k) 100k 100k 100k Balances 2,700k 400k 1m 600k 700k Payment of liab. (400k) (400k) Bal. 2,300k 1m 600k 700k Payments toPartners(2,300k) (1m) (600k) ( 700k) 1. Sale of all Non-Cash Assets Cash 2,650k Non-cash assets 2,350k A, Capital 100k D, Capital 100k L, Capital 100k To record the gain of the partners. 2. Liabilities 400k Cash 400k To record payments to liabilities. 3.A, Capital 1m D, Capital 600k L, Capital 700k Cash 2,300k To record distribution of cash. PROBLEM#3 1. Sale of Non-Cash Assets Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472,680 G, Capital 19,488 T, Capital 19,488 S, Capital 9,744 To record cash and distribution of gain on realization. 2. Payments of liabilities Liabilities 131,350 Cash 131,350 To pay the liabilities. 3. Distribution of cash to the partners. G, Capital 581,088 T, Capital 456,288 S, Capital 384,144 Cash 1,421,520 To distribute cash to the partners. PROBLEM#8 1.) Cash balance: 160k Less: S,Cap. 150k P,Cap. 70k Loss on realization (60k) 2.) S, Capital :(60k)x50%=(30k) P, Capital : (60k)x50%=(30k)
3.) S.Cap. P.Cap. Bal. before Liquidation 150k 70k Loss on Realization (30k) (30k) Balance 120k 40k PROBLEM#11 Cash NCA Liabilities B.Loan A.Cap. B.Cap. L.Cap. P/L ratio 20% 40% 40% Bal. before Liquidation 25k 475k 240k 30k 120k 50k 60k Sale of NCA & dist. Of loss260k (475k) (43k) (86k) (86k) Bal. 285k 240k 30k 77k (36k) (26k) Payment of Liabilities (240k) (240k)______________________________ Bal. 45k 30k 77k (36k) (26k) Right of offset (30k) 30k Bal. 45,000 77,000 (6,000) (26,000) Add’l invest. 31,000 6,000 25,000 Bal. 76,000 77,000 (1,000) Absorption (1,000) 1,000 Bal. 76,000 76,000 Payments to Partners (76,000) (76,000)
Regine May T. Zabala BSA 1A PROBLEM#1 Arenas, Dulay and Laurente Statement of Liquidation December 31, 2015 Cash NCA Liabilities A, Cap. D, Cap. L, Cap. P/L Ratio 1/3 1/3 1/3 Bal, before Liquidation 50k 2,350k 400k 900k 500k 600k SalesofNCA& dist.of Gain2,650k(2,350k) 100k 100k 100k Balances 2,700k 400k 1m 600k 700k Payment of liab. (400k) (400k) Bal. 2,300k 1m 600k 700k Payments toPartners(2,300k) (1m) (600k) ( 700k) 1. Sale of all Non-Cash Assets Cash 2,650k Non-cash assets 2,350k A, Capital 100k D, Capital 100k L, Capital 100k To record the gain of the partners. 2. Liabilities 400k Cash 400k To record payments to liabilities. 3.A, Capital 1m D, Capital 600k L, Capital 700k Cash 2,300k To record distribution of cash. PROBLEM#3 1. Sale of Non-Cash Assets Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472,680 G, Capital 19,488 T, Capital 19,488 S, Capital 9,744 To record cash and distribution of gain on realization. 2. Payments of liabilities Liabilities 131,350 Cash 131,350 To pay the liabilities. 3. Distribution of cash to the partners. G, Capital 581,088 T, Capital 456,288 S, Capital 384,144 Cash 1,421,520 To distribute cash to the partners. PROBLEM#8 1.) Cash balance: 160k Less: S,Cap. 150k P,Cap. 70k Loss on realization (60k) 2.) S, Capital :(60k)x50%=(30k) P, Capital : (60k)x50%=(30k)
3.) S.Cap. P.Cap. Bal. before Liquidation 150k 70k Loss on Realization (30k) (30k) Balance 120k 40k PROBLEM#11 Cash NCA Liabilities B.Loan A.Cap. B.Cap. L.Cap. P/L ratio 20% 40% 40% Bal. before Liquidation 25k 475k 240k 30k 120k 50k 60k Sale of NCA & dist. Of loss260k (475k) (43k) (86k) (86k) Bal. 285k 240k 30k 77k (36k) (26k) Payment of Liabilities (240k) (240k)______________________________ Bal. 45k 30k 77k (36k) (26k) Right of offset (30k) 30k Bal. 45k 77k (6k) (26k) Add’l invest. 31k 6k 25k Bal. 76k 77k (1k) Absorption (1k) 1k Bal. 76k 76k Payments to Partners (76k) (76k)
ABIGAEL D. DACDAC BSA – 1B PROBLEM # 1: PG.4 -35 LUMP-SUM LIQUIDATION with GAIN on REALIZATION Required: 1.)Entries a. Sale of all non-cash assets. Cash 2,650,000 Non-cash Assets 2,350,000 Gain on Realization 300,000 b. Distribution of gain on realization to the partners. Gain on Realization 300,000 Arenas, Capital 100,000 Dulay, Capital 100,000 Laurente, Capital 100,000 c. Payment of the liabilities Liabilities 400,000 Cash 400,000 d. Distribution of cash to the partners Arenas, Capital 1,000,000 Dulay, Capital 600,000 Laurente, Capital 700,000 Cash 2,300,000
Arenas, Dulay and Laurente Statement of Liquidation June 30,2015
CASH NON- CASH LIABILITIES ARENAS, DULAY, LAURENTE, ASSETS CAPITAL CAPITAL CAPITAL Balances before Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000 Sale of Non-cash Assets and Distribution Of Gain 2,650,000 (2,350,000) 100,000 100,000 100,000 Balances 2,700,000 400,000 1,000,000 600,000 700,000 Payment of Liabilities (400,000) (400,000) Balances 2,300,000 1,000,000 600,000 700,000 Payments to Partners (2,300,000) (1,000,000) (600,000) (700,000)
PROBLEM # 3: PG.4-37 LUMP-SUM LIQUIDATION Required: Prepare the liquidation journal entries. 2015 June 30 Cash 1,133,700 Merchandise Inventory 612,300 Other Assets 472,680 Gain on Realization 48,720
Gain on Realization 48,720 Gulane, Capital 19,488 Tormis, Capital 19,488 Sailadin, Capital 9,744
Accounts Payable 131,350 Cash 131,350
Gulane, Capita 581,088 Tormis, Capital 456,288 Sailadin, Capital 384,144 Cash 1,421,520
PROBLEM #8: PG.4- 41 DISTRIBUTION OF CASH upon LIQUIDATION Required: 1.) What is the amount of loss or gain on realization? 60,000 2.) How should loss or gain be divided between the partners? EQUALLY 3.) How much cash should be distributed to each partner? SORIA – 120,000 PARAS – 40,000
PROBLEM #11: PG.4-43 LUMP-SUM LIQUIDATION Required: Prepare a statement of liquidation. Aparece, Bantilles and Lerin Statement of Liquidation December 01,2015
CASH NON- CASH LIABILITIES BANTILLES, APARECE, BANTILLES, LERIN, ASSETS LOAN CAPITAL CAPITAL CAPITAL Balances before Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000 Sale of Non-cash Assets and Distribution Of Losses 260,000 475,000 (43,000) (86,000) (86,000) Balances 285,000 240,000 30,000 77,000 (36,000) (26,000) Payment of Liabilities (240,000) (240,000) Balances 45,000 30,000 77,000 (36,000) (26,000) Right of Offset By Tria (30,000) 30,000 Balances 45,000 77,000 (6,000) (26,000) Additional Losses To Aparece (77,000) Balances 45,000 (6,000) (26,000) Payment to Partners (45,000) 6,000 26,000
Problem No. 1 Cash Non-cash assets Liabilities Arenas Dulay Laurente Balances before 50,000 2,350,000 400,000 900,000 500,000 600,000 Liquidation Sale of non-cash assets 2,650,000 (2,350,000) 100,000 100,000 100,000 balances 2,700,000 400,000 1,000,000 600,000 700,000
settlement of liabilities (400,000) (400,000) balances 2,300,000 1,000,000 600,000 700,000 balances payments to partners 2,300,000 (1,000,000) (600,000) (700,000)
Problem no. 3
Cash 582,800 Loss on realization 29,500 Merchandise Inventory 612,300
Cash 550,900 Gain on realization 78,220 Other Assets 472,680
Accounts Payable 131,350 Cash 131,350
Gulane, capital 568,608 Tarmis, capital 568,608 Sailadin, capital 284,304 Cash 1,421,520
Problem no. 8
Cash Non-cash assets Soria Paras Balances before Liquidation 220,000 150,000 70,000 Sales of NCA 160,000 (220,000) (30,000) (30,000) Balances 160,000 120,000 40,000 Payments to Partners (160,000) (120,000) (40,000)
1. the amount of loss or gain on realization is 60,000. 2. the loss or gain will be equal based on their sharing agreement. 3. Cash distributed to each partners is 120,000 and 40,000 respectively.
Problem no. 11 Cash NCA Liabilities Bantilles loan Aparece Bantilles Lerin P/L 20 : 40 : 40 Balance before Liquitdation 100,000 400,000 240,000 30,000 120,000 50,000 60,000 Sale of NCA 260,000 (400,000) (28,000) (56,000) (56,000) Balances 360,000 92,000 (6,000) 4,000 Payment of Liabilities 240,000 (240,000) Balances 120,000 92,000 (6,000) 4,000 Offset of Bantilles (6,000) 6,000 Balances 120,000 24,000 92,000 4,000 Payments to Partners (120,000) (24,000) (92,000) (4,000)
Prob # 1 Date 2015 Jun 30 Cash 2650000 Non- cash asset 2350000 Gain on realization 300000 Sale of non-cash asset . / Gain on realization 300000 Arenas, Capital 100000 Dulay,Capital 100000 Laurente, Capital 100000 Distribution of gain .
/ Accounts Payable 400000 Cash 400000 Payment of liabilities .
/ Arenas,Capital 1000000 Dulay , Capital 600000 Laurente, Capital 700000 Cash 2300000 Distribution of cash to partners .
Prob # 3 Date 2015 Jun 30 Cash 582800 Loss on realization 29500 Merchandise Inventory 612300 Sale of merchandise inventory .
/ Gulane,Capital 11800 Tormis,Capital 11800 Sailadin, Capital 5900 Loss on realization 29500 Distribution of loss .
/ Cash 550900 Gain on realization 78220 Other Asset 472680 Sale of other asset.
/ Gain on realization 78220 Gulane,Capital 31288 TORMIS,Capital 31288 Sailadin,Capital 15644 Distribution of gain .
/ Accounts Payable 131350 Cash 131350 Payment of liabilities.
Prob # 8 Soria Paras Loss on realization (220000-160000)/2 30000 30000 Capital balance of the partners 150000 70000 Total P 120000 P 40000
1. P 60000is the amount of loss. 2. P 30000 is the loss be divided between the partners . 3. P 120000 And P 40000 – the amount distributed respectively to Soria and Paras .
DAVOCOL, JOSHUA AMIEL BSA-1B Problem #1 Date 2015 June 30 Cash 2,650,000 Non-cash Assets 2,350,000 Gain on Realization 300,000 To record sale of non-cash assets.
Gain on Realization 300,000 Arenas, Capital 100,000 Dulay, Capital 100,000 Laurente, Capital 100,000 To record division of gains.
Liabilities 400,000 Cash 400,000 To record payment of liabilities.
Arenas, Capital 766,667 Dulay, Capital 766,667 Laurente, Capital 766,666 Cash 2,300,000 To record division of cash.
Arenas, Dulay & Laurente Statement of Liquidation June 30, 2015 Cash Non-Cash Assets Liabilities Arenas,Capital Dulay,Capital Laurete, Capital P/L 2/5 2/5 1/5 Balance before Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000 Sales of Non-Cash Assets & Distribution of Gains 2,650,000 (2,350,000) 100,000 100,000 100,000 Balances 2,700,000 1,000,000 600,000 700,000 Payment of Liabilities (400,000) 400,000 Balances 2,300,000 1,000,000 600,000 700,000 Payments to Partners 2,300,000) (1,000,000) (600,000) (700,000)
Problem #3
Date 2015 June 30 Cash 582,800 Loss on Realization 29,500 Merchandise Inventory 612,300
Gulane, Capital 11,800 Tormis, Capital 11,800 Sailadin, Capital 5,900 Loss on Realization 29,500
Cash 550,900 Other Assets 472,680 Gain on Realization 78,220
Gain on Realization 78,220 Gulane, Capital 31,288 Tormis, Capital 31,288 Sailadin, Capital 15,644
Accounts Payable 131,350 Cash 131,350
Gulane, Capital 568,608 Tormis, Capital 568,608 Sailadin, Capital 284,304 Cash 1,421,520
Problem #1
ReplyDeleteArenas, Dulay, and Laureta
Statement of Financial Position
June 30, 2015
Cash Noncash Assets Liablities Arenas, Capital Dulay, Capital Laurente, Capital
Balance P50,000 P2,350,000 P400,000 P900,000 P500,000 P600,000
Sale of Noncash 2,650,000 (2,350,000) 100,000 100,000 100,000
Balance P2,700,000 P400,000 P1,000,000 P600,000 P700,000
Payment of Liabilities P(400,000) (400,000)
Payment of Partners P2,350,000 P1,000,000 P600,000 P700,000
Problem #3
1.Cash 582,800
Loss on realization 29,500
Merchandise Inventory 612,300
Gulane, Capital 11,800
Tormis, Capital 11,800
Sailadin, Capital 5,900
Loss on Realization
2. Cash 550,900
Gain on Relization 78,220
Other Assets 472,680
Gain on Realization 78,220
Gulane, Capital 31,288
Tormis, Capital 31,288
Sailadin, Capital 15,644
3. Accounts Payable 131,350
Cash 131,350
4. Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Problem #8
1. P60,00
2. Equally
3. Soria, Capital= P 120,000
Paras, Capital= P 40,00
Problem #11
ABL Partnership
Statement of Financial Position
December 21, 2015
Cash Noncash Assets Liabilities Bantiles Loan Aparece, Capital Bantiles, capital Lerin, Capital
Balance P25,000 P475,000 P240,000 P30,000 P120,000 P50,000 P60,000
Sale of Noncash Assets 260,000 (475,000) (43,000) (86,000) (86,000)
Balance P285,000 P240,000 P77,000 (P36,000) (P26,000)
Payment of Liabilities (240,000) (240,000)
Balance P45,000 P77,000 (P36,000) (P26,000)
Additioanal investments of Bantiles and Lerin 61,000
36,000 25,000
Balance P106,000 P77,000 (P1,000)
Additional losses to Aparece (P1,000) 1,000
Payment to Partners P106,000 P30,000 P76,000
Endong, Mark Millan N. BSA-1A
ReplyDeleteProblem # 1
Jun. 30 Cash 2 650 000
Gain on realization 300 000
Non-Cash Assets 2 350 000
to record the asset being sold.
/ Gain on Realization 300 000
Arenas, Capital 100 000
Dulay, Capital 100 000
Laurente, Capital 100 000
to record the share of gain on
realization.
/ Liabilities 400 000
Cash 400 000
to record payment of liabilities.
/ Arenas, Capital 1 000 000
Dulay, Capital 600 000
Laurente, Capital 700 000
Cash 2 300 000
To record payment of remaining cash.
Arenas, Dulay and Laurente
Statement of Liquidation
June 30, 2015
Cash Non-Cash Assets Liabilities Arenas Dulay Laurente
Balance 50 000 2 350 000 400 000 900 000 500 000 600 000
Sale of
Non-Cash
Assets 2 650 000 (2 350 000) 100 000 100 000 100 000
========
2 700 000 400 000 1 000 000 600 000 700 000
Payment
of Liab. (400 000) (400 000)
========
2 300 000 1 000 000 600 000 700 000
Payment
to partner (2 300 000) (1 000 000)(600 000)(700 000)
========= ======================
Problem # 3
Jun.30Cash 1 133 700
Gain on Realization 48 720
Merchandise Inventory 612 300
Other Assets 472 680
to record asset being sold.
/ Gain on Realization 48 720
Gulane, Capital 19 488
Tormis, Capital 19 488
Sailadin, Capital 9 744
To record share in gain on realization.
/ Liabilities 131 350
Cash 131 350
to record payment of liabilities.
/ Gulane, Capital 581 088
Tormis, Capital 456 288
Sailadin, Capital 382 144
Cash 1 421 520
to record payment of remaining cash
to partners.
Note: Continuation on next comment.
Continuation from previous comment.
ReplyDeleteEndong, Mark Millan N. BSA-1A
Problem # 8
1. 160 000- 150 000- 70 000 = (60 000)
======
2. Equally
3. 160 000/ 2 = 80 000
=====
Problem # 11
ABL Partnership
Statement of Liquidation
December 1, 2015
Balance Non-Cash Sold Offset Liabilities Investment Share
Cash 25 000 260 000 (240 000) 31 000 (76 000)
======
A/ R 75 000 75 000)
=======
Inventories 100 000 (100 000)
=======
Property & 300 000 (300 000)
Equipment =======
A/P 240 000 (240 000)
=======
L/P-Bantilles 30 000 (30 000)
======
Aparece, 120 000 (43 000) (1 000) (76 000)
Capital =====
Bantilles, 50 000 (86 000) 30 000 6 000
Capital =====
Lerin, 60 000 (86 000) 25 000 1 000
Capital =====
PROBLEM #1
ReplyDelete1. Sales of Non-Cash Assets
Cash 2,650,000
Non- Cash Assets 2,350,000
Gain on Realization 300,000
2. Distribution of gains on realization to the partners.
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
3. Payment of the liabilities
Liabilities 400,000
Cash 400,000
4. Distribution of cash to the partners.
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
PROBLEM #3
1. Sales of Non-Cash Assets
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
Gain on Realization 48,720
2. Distribution of gains on realization to the partners.
Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
3. Payment of Liabilities
Accounts Payable 131,350
Cash 131,350
4. Distribution of cash to the partners.
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
PROBLEM #8
1. What is the amount of loss or gain on realization?
Loss Realization: P160,000
(150,000)
(70,000)
_________
(P 60,000)
2. How should the loss or gain be divided between the partners?
-Based in Profit and Loss Ratio. The problem states that it must be divided equally.
3. How much cash should be distributed to each partner?
*Distribution of Loss Realization to the partners
Soria, Capital 30,000
Paras, Capital 30,000
Loss on Realization 60,000
*Distribution of cash to the partners.
Soria, Capital 120,000
Paras, Capital 40,000
Cash 160,000
PROBLEM #11
ABL PARTNERSHIP
Statement of Liquidation
December 1, 2015
Cash NCA Liab. B, Loan A, Capital B, Capital C,Capital
25,000 475,000 240,000 30,000 120,000 50,000 60,000
260,000 (475,000) (43,000) (86,000) (86,000)
_______ _______ _______ _______
285,000 240,000 30,000 77,000 (36,000) (26,000)
(240,000) (240,000)
_______ _______ ______ _______
45,000 30,000 77,000 (36,000) (26,000)
61,000 36,000 25,000
_______ _______ ===== _______
106,000 30,000 77,000 (1,000)
(1,000) 1,000
______ ______ _______ =====
106,000 30,000 76,000
(106,000) (30,000) (76,000)
======= ====== ======
-ARAMINA C. ALBAT
PROBLEM #1
ReplyDelete1. Sales of Non-Cash Assets
Cash 2,650,000
Non- Cash Assets 2,350,000
Gain on Realization 300,000
2. Distribution of gains on realization to the partners.
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
3. Payment of the liabilities
Liabilities 400,000
Cash 400,000
4. Distribution of cash to the partners.
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
PROBLEM #3
1. Sales of Non-Cash Assets
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
Gain on Realization 48,720
2. Distribution of gains on realization to the partners.
Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
3. Payment of Liabilities
Accounts Payable 131,350
Cash 131,350
4. Distribution of cash to the partners.
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
PROBLEM #8
1. What is the amount of loss or gain on realization?
Loss Realization: P160,000
(150,000)
(70,000)
_________
(P 60,000)
2. How should the loss or gain be divided between the partners?
-Based in Profit and Loss Ratio. The problem states that it must be divided equally.
3. How much cash should be distributed to each partner?
*Distribution of Loss Realization to the partners
Soria, Capital 30,000
Paras, Capital 30,000
Loss on Realization 60,000
*Distribution of cash to the partners.
Soria, Capital 120,000
Paras, Capital 40,000
Cash 160,000
PROBLEM #11
ABL PARTNERSHIP
Statement of Liquidation
December 1, 2015
Cash NCA Liab. B, Loan A, Capital B, Capital C,Capital
25,000 475,000 240,000 30,000 120,000 50,000 60,000
260,000 (475,000) (43,000) (86,000) (86,000)
_______ _______ _______ _______
285,000 240,000 30,000 77,000 (36,000) (26,000)
(240,000) (240,000)
_______ _______ ______ _______
45,000 30,000 77,000 (36,000) (26,000)
61,000 36,000 25,000
_______ _______ ===== _______
106,000 30,000 77,000 (1,000)
(1,000) 1,000
______ ______ _______ =====
106,000 30,000 76,000
(106,000) (30,000) (76,000)
======= ====== ======
-ARAMINA C. ALBAT
PROBLEM #1
ReplyDelete1. Sales of Non-Cash Assets
Cash 2,650,000
Non- Cash Assets 2,350,000
Gain on Realization 300,000
2. Distribution of gains on realization to the partners.
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
3. Payment of the liabilities
Liabilities 400,000
Cash 400,000
4. Distribution of cash to the partners.
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
PROBLEM #3
1. Sales of Non-Cash Assets
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
Gain on Realization 48,720
2. Distribution of gains on realization to the partners.
Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
3. Payment of Liabilities
Accounts Payable 131,350
Cash 131,350
4. Distribution of cash to the partners.
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
PROBLEM #8
1. What is the amount of loss or gain on realization?
Loss Realization: P160,000
(150,000)
(70,000)
_________
(P 60,000)
2. How should the loss or gain be divided between the partners?
-Based in Profit and Loss Ratio. The problem states that it must be divided equally.
3. How much cash should be distributed to each partner?
*Distribution of Loss Realization to the partners
Soria, Capital 30,000
Paras, Capital 30,000
Loss on Realization 60,000
*Distribution of cash to the partners.
Soria, Capital 120,000
Paras, Capital 40,000
Cash 160,000
PROBLEM #11
ABL PARTNERSHIP
Statement of Liquidation
December 1, 2015
Cash NCA Liab. B, Loan A, Capital B, Capital C,Capital
25,000 475,000 240,000 30,000 120,000 50,000 60,000
260,000 (475,000) (43,000) (86,000) (86,000)
_______ _______ _______ _______
285,000 240,000 30,000 77,000 (36,000) (26,000)
(240,000) (240,000)
_______ _______ ______ _______
45,000 30,000 77,000 (36,000) (26,000)
61,000 36,000 25,000
_______ _______ ===== _______
106,000 30,000 77,000 (1,000)
(1,000) 1,000
______ ______ _______ =====
106,000 30,000 76,000
(106,000) (30,000) (76,000)
======= ====== ======
-ARAMINA C. ALBAT
Problem #1
ReplyDelete1.) Cash 2,650,000
Non-Cash Assets 2,350,000
Gain on Realization 300,000
Sale of Non-Cash Assets.
2.) Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
Division of realization.
3.) Liabilities 400,000
Cash 400,000
Payment of liabilities.
4.) Arenas, Capital 766,667
Dulay, Capital 766,666
Laurente, Capital 766,667
Cash 2,300,000
Cash distribution.
Problem #3
Cash 1,113,700
Non-Cash Assets 1,084,980
Gain on Realization 28,720
Sale of Non-Cash Assets.
Gain on Realization 28,720
Gulane, Capital 11,488
Tormis, Capital 11,488
Sailadin, Capital 5,744
Division of realization.
Accounts Payable 131,350
Cash 131,350
Payment of liabilities.
Arenas, Capital 560,608
Dulay, Capital 560,608
Laurente, Capital 280,304
Cash 1,401,520
Cash distribution.
Problem #8
1.) Total Capital Cash after Realization Realization
220,000 (160,000) = 60,000
Realization is 60,000
2.) 60,000/2= 30,000
3.) 160,000/2= 80,000
Problem #11
Aparece, Bantilles and Lerin
Statement of Liquidation
Dec. 1, 2015- Dec.10, 2015
Cash NCA A/P Bantilles, Loan Aparece, Capital Bantilles,Capital Lerin, Capital
Bal. 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale 260,000 (475,000) (43,000) (86,000) (86,000)
Bal. 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment(240,000) (240,000)
Bal. 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset (30,000) 30,000
Bal. 45,000 77,000 (6,000) (26,000)
Investment 31,000 6,000 25,000
Bal. 76,000 77,000 (1,000)
Deficiency absorbed (333) (667) 1,000
Bal. 76,000 76,667 (667)
Investment 667 667
Bal. 76,667 76,667
Cash Distribution(76,667) (76,667)
Balance 0 0 0 0 0 0 0
Reynanel Yu Argales BSA-1A
ReplyDeleteProblem #1
1.
Cash 2,650,000
Non Cash Assets 2,350,000
Gain on Realization 300,000
sale of non cash assets
2.
Gain on Realization 300,000
A, Capital 100,000
D, Capital 100,000
L, Capital 100,000
distribution of realization
3.
Liabilities 400,000
Cash 400,000
payment of liabilities
4.
A, capital 1,000,000
D, Capital 600,000
L, Capital 700,000
Cash 2,300,000
distribution of cash to partners
Arenas, Dulay, Laurente
Statement of Liquidation
June 30, 2015
cash nca liabilities A, C D, C L, C
Balance 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale 2,650,000 (2,350,000) 100,000 100,000 100,000
Payment (400,000) (400,000)
_____________________________________________________________________
Balances 2,300,000 0 0 1,000,000 600,000 700,000
Payments (2,300,000) (1,000,000) (600,000) (700,000)
=============================================================
Problem #3
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472, 680
Gain on Realization 48,720
sale of non cash assets
Gain on realization 48,720
G, C 19,488
T, C 19,488
S, C 9,744
distribution of realization
A/P 131,350
Cash 131,350
Payment of liabilities
G, C 581,088
T, C 456,288
S, C 384,144
Cash 1,421,520
distribution of cash to partners
Problem # 1
ReplyDeleteCash 2,650,000
Non-Cash Asset 2,350,000
Gain on realization 300,000
Sale Of Non-cash assets
Gain on realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurante, Capital 100,000
Distribution of gain realization
Liabilities 400,000
Cash 400,000
Payment of liabilities
Cash 2,300,000
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurante, Capital 700,000
Distribution of cash to partners
Problem # 3
Cash 582,800
Loss on realization 29,500
Merchandise Inventory 612,300
Sale of Merchandise Inventory
Cash 550,900
Gain on realization 78,220
Other Asset 472,680
Sale of Other Asset
Gulane, Capital 11,800
Tormis, Capital 11,800
Sailadin, Capital 5,900
Loss on Realization 29,500
Distribution of Loss
Gain on realization 78,220
Gulane, Capital 31,288
Tormis, Capital 31,288
Sailadin, Capital 15,644
Distribution of Gain
Liabilities 131,350
Cash 131,350
Payment of liabilities
Cash 1,421,520
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Distribution of cash to partners
Problem # 8
1). 150,000 – 30,000 = 120,000 = 60,000 is the loss
70,000 – 30,000 = 40,000
= 160,000
2). Equally.
3). 120,000 for Soria and 40,000 for Paras
Jill Fritz Dale C, Dela Cruz BSA-1B :)
Aparece, bantilles and Lerin
ReplyDeleteStatement Of Liquidation
Dec. 31, 2015
Cash Non-Cash Assets Liabilities Aparece, Capital Bantilles, Capital Lerin, Capital
P/L Percentages 20% 40% 40%
Balances Before Liquidation 25,000.00 475,000.00 270,000.00 120,000.00 50,000.00 60,000.00
Sale Of Non-Cash Assets and Distribution Of Profits 260,000.00 (475,000.00) (43,000.00) (86,000.00) (86,000.00)
Balances 285,000.00 270,000.00 77,000.00 (36,000.00) (26,000.00)
Payment Of Liabilities (Partial) (208,000.00) (208,000.00)
Balances 77,000.00 62,000.00 77,000.00 (36,000.00) (26,000.00)
Payment Of Liabilities (Full) (62,000.00) (62,000.00) 36,000.00 26,000.00
Balances 15,000.00 77,000.00
Payment to partners (15,000.00) (15,000.00)
62,000.00
Jill Fritz Dale C. Dela Cruz BSA-1B :)
Problem 1
ReplyDelete1. Sale of non-cash assets
Cash 2 650 000
Non-cash Assets 2 350 000
Gain on Realization 300 000
2. Distribution of Gain on Realization based on Partners' P/L Ratio
Gain on Realization 300 000
Arenas, Capital 100 000
Dulay, Capital 100 000
Laurente, Capital 100 000
3. Payment of Liabilities
Liabilities 400 000
Cash 400 000
4. Distribution of Cash to Partners
Arenas, Capital 766 667
Dulay, Capital 766 667
Laurente, Capital 766 666
Cash 2 300 000
Arenas, Dulay and Laurente
Statement of Liquidation
Cash Non-Cash Liabilities A, Cap. D, Cap. L, Cap.
Assets
P/L Ratio 1/3 1 /3 1/3
Balances before 50 000 2 350 000 400 000 900 000 500 000 600 000
Liquidation
Sale of Non-cash
Assets and
Distibution of Gain 2 650 000 (2 350 000) 100 000 100 000 100 000
------------------------------------------------------------------------------------------
------------------
Balances 2 700 000 400 000 1 000 000 600 00 700 00
Payment of
Liabilities
to Outsiders (400 000) (400 000)
-------------------------------------------------------------------------------------------------
---------------
Balances 2 300 000 1 000 000 600 000 700 000
Problem 3
1. Sale on Non-cash Assets
Cash 1 133 700
Merchandise Inventory 612 300
Other Assets 472 680
Gain on Realization 48 720
2. Distribution of Gain on Realization based on Partners' P/L Ratio
Gain on Realization 48 720
Gulane, capital 19 488
Tormis, Capital 19 488
Sailadin, Capital 9 744
3. Payment of Liabilities
Accounts Payable 131 350
Cash 131 350
4. Distribution of Cash to Partners
Gulane, Capital 568 608
Tormis, Capital 568 608
Sailadin, Capital 284 304
Cash 1 421 520
Camarines, Sheryl T.
BSA 1A
GUIRA KESLEY ANNE BSA 1B
ReplyDeleteProblem #1
Arenas, Dulay and Laurente Partnership
Statement of Liquidation
June 30 2015
Cash Non-cashAssets Liabilities Arena, Capital Dulay, Capital Laurente, Capital
Balances P50 000 P2 350 000 P400 000 P900 000 P500 000 P600 000
Sale of Non
cash asset 2 650 000 2 350 000 100 000 100 000 100 000
Balances 2 700 000 400 000 1 000 000 600 000 700 000
Payment of
Liabilities (400 000) (400 000)
Balances 2 300 000 1 000 000 600 000 700 000
Payment to
Partners (2 300 000) (1 000 000) (600 000) (700 000)
2015
June 30 Cash 2 650 000
Gain on Realization 300 000
Non-Cash Assets 2 350 000
Sale of non cash asset.
Gain on Realization 300 000
Arenas Capital 100 000
Dulay Capital 100 000
Laurrente Capital 100 000
Distribution of Gain to partners.
Liabilities 400 000
Cash 400 000
Payment of Liabilities.
Arena Capital 1 000 000
Dulay Capital 600 000
Laurente Capital 700 000
Cash 2 300 000
Distribution of Cash to partners.
Problem #3
2015
June 30 Cash 582 800
Loss on Realization 29 500
Merchandise Inventory 612 300
Sale of merchandise inventory.
Cash 550 900
Gain on Realization 78 220
Other Asset 472 680
Sale of other assets.
Gulane Capital 11 800
Tormis Capital 11 800
Sailadin Capital 5 900
Loss on Realization 29 500
Distribution of loss to partners.
Gain on Realization 78 220
Gulane Capital 31 288
Tormis Capital 31 288
` Sailadin Capital 15 644
Distribution of gain to partners.
Gulane Capital 58 088
Tormis Capital 456 258
Sailadin Capital 384 144
Cash 1 421 520
Disribution of cash to partners.
Problem#8
1. P60 000 (150 000+70 000-160 0000)
2. Divide by 2 since they share profits and loss equally. 60 000/2= 30 000 each.
3. P160 000. P120 000 to Soria and P40 000 to Paras.
Problem #11
Cash A.R Inventory Property&Eqpt A.P Bantilles Aparece Bantilles Lerin
Loan Capital Capital Capital
Balances P25 000 P75 000 P100 000 P300 000 P240 000 P30 000 P120 000 P50 000 P60 000
Sale of
Non Cash
Asset 260 000 (75 000) (100 000) (300 000) (43 000) (86 000) (86 000)
Balances 285 000 240 000 30 000 77 000 (36000) (26000)
Payment
Of liab. (240 000) (240 000)
Balances 45 000 30 000 77 000 (36000) (26000)
Right of
Offset (30 000) (30 000)
Balances 45 000 77 000 (6 000) (26000)
Investment
Of bantilles&
lerin 6 000 25 000
Balances 76 000 77 000 (1 000)
Deficiency
Absorb by
Aparece (333) (667) 1 000
Balances 76 667 76 667 (667)
Right of
offset ` 667
Balances76 667 76 667
Payment
To
Partners (76 667) (76 667)
Relatorres, Camille Kessey, E.
ReplyDeleteProblem 1
Arenas, Dulay and Laurante
Statement of Liquidation
June 30, 2015
Cash Non-Cash Liabilities Arenas, Capital Dulay, Capital Laurante, Capital
Assets
P/L ratio 1/3 1/3 1/3
Balances before
Liquidation 50000 2350000 400000 900000 500000 600000
Sale of non-cash
Assets 2650000 (2350000) 100000 100000 100000
Balance 2700000 400000 1000000 600000 700000
Payment of liabilities (400000) (400000)
Balance 2300000 1000000 600000 700000
Payment to partners (2300000) (1000000) (600000) (700000)
2015
June 30 Cash 2650000
Gain on realization 300000
Non-cash assets 2350000
Sale of non-cash assets.
/ Gain on Realization 300000
Arenas, Capital 100000
Dulay, Capital 100000
Laurante, Capital 100000
Distribution of gain on
realization to partners.
/ liabilities 400000
Cash 400000
Payment of liabilities.
/ Arenas, Capital 1000000
Dulay, Capital 600000
Laurant, Capital 700000
Cash 2300000
Distribution of cash to partners.
Problem 3
2015
June 30 cash 1133700
Gain on realization 48320
Merchandise inventory 612300
Other assets 472680
Sale of non-cash asssets.
/ gain on realization 48720
Gulane, Capital 19488
Tormis, Capital 19488
Sailadin, Capital 9744
Distribution of gain on realization
to partners.
/ accounts payable 131350
Cash 131350
Payment of liabilities.
/ Gulane, Capital 581088
Tormis, Capital 456288
Sailadin, Capital 384144
Cash 1421520
Distribution of cash to partners.
Problem 8
Partnership capital 150000+70000=220000+(60000)=160000
Soria, Capital 150000+(30000)=120000
Paras, Capital 70000+(30000)=40000
1. 60000
2. The partners should divide loss or gain equally.
3. Soria,capital 120000
Paras, capital 40000
Problem 11
ABL Partnership
Statement of Liquidation
December 1, 2015
Cash A/R Inventories Property & A/P Loans aparece, bantilles, lerin
Equipment Payable capital capital capital
P/L ratio 20 40 40
Balance prior to
Liquidation 25000 75000 100000 300000 240000 30000 120000 50000 60000
Sale of non-cash
Assets 260000 (75000) (100000) (300000) (43000) (86000) (86000)
balances 285000 240000 30000 77000 (36000) (26000)
payment of liabilities (240000) (240000)
balance 45000 (30000) 30000
right of offset 77000 6000 (26000)
balance 45000
investment of Bantilles 6000 (6000)
balance 51000 77000 (26000)
Investment of lerin 25000 25000
balance 76000 77000 (1000)
deficiency absorbed
by solvent partners (333) (667) 1000
balances 76000 76667 (667)
add 667 667
balance 76667 76667
payment to partners (76667) (76667)
Relatorres, Camille Kessey, E.
ReplyDeleteProblem 1
Arenas, Dulay and Laurante
Statement of Liquidation
June 30, 2015
Cash Non-Cash Liabilities Arenas, Capital Dulay, Capital Laurante, Capital
Assets
P/L ratio 1/3 1/3 1/3
Balances before
Liquidation 50000 2350000 400000 900000 500000 600000
Sale of non-cash
Assets 2650000 (2350000) 100000 100000 100000
Balance 2700000 400000 1000000 600000 700000
Payment of liabilities (400000) (400000)
Balance 2300000 1000000 600000 700000
Payment to partners (2300000) (1000000) (600000) (700000)
2015
June 30 Cash 2650000
Gain on realization 300000
Non-cash assets 2350000
Sale of non-cash assets.
/ Gain on Realization 300000
Arenas, Capital 100000
Dulay, Capital 100000
Laurante, Capital 100000
Distribution of gain on
realization to partners.
/ liabilities 400000
Cash 400000
Payment of liabilities.
/ Arenas, Capital 1000000
Dulay, Capital 600000
Laurant, Capital 700000
Cash 2300000
Distribution of cash to partners.
Problem 3
2015
June 30 cash 1133700
Gain on realization 48320
Merchandise inventory 612300
Other assets 472680
Sale of non-cash asssets.
/ gain on realization 48720
Gulane, Capital 19488
Tormis, Capital 19488
Sailadin, Capital 9744
Distribution of gain on realization
to partners.
/ accounts payable 131350
Cash 131350
Payment of liabilities.
/ Gulane, Capital 581088
Tormis, Capital 456288
Sailadin, Capital 384144
Cash 1421520
Distribution of cash to partners.
Problem 8
Partnership capital 150000+70000=220000+(60000)=160000
Soria, Capital 150000+(30000)=120000
Paras, Capital 70000+(30000)=40000
1. 60000
2. The partners should divide loss or gain equally.
3. Soria,capital 120000
Paras, capital 40000
Problem 11
ABL Partnership
Statement of Liquidation
December 1, 2015
Cash A/R Inventories Property & A/P Loans aparece, bantilles, lerin
Equipment Payable capital capital capital
P/L ratio 20 40 40
Balance prior to
Liquidation 25000 75000 100000 300000 240000 30000 120000 50000 60000
Sale of non-cash
Assets 260000 (75000) (100000) (300000) (43000) (86000) (86000)
balances 285000 240000 30000 77000 (36000) (26000)
payment of liabilities (240000) (240000)
balance 45000 (30000) 30000
right of offset 77000 6000 (26000)
balance 45000
investment of Bantilles 6000 (6000)
balance 51000 77000 (26000)
Investment of lerin 25000 25000
balance 76000 77000 (1000)
deficiency absorbed
by solvent partners (333) (667) 1000
balances 76000 76667 (667)
add 667 667
balance 76667 76667
payment to partners (76667) (76667)
Problem #1
ReplyDelete1)Sale of non-cash assets
Cash 2 650 000
Non-cash Assets 2 350 000
Gain on Realization 300 000
2)Distribution of Gain on Realization based on Partners' P/L Ratio
Gain on Realization 300 000
Arenas, Capital 100 000
Dulay, Capital 100 000
Laurente, Capital 100 000
3)Payment of Liabilities
Liabilities 400 000
Cash 400 000
4)Distribution of Cash to Partners
Arenas, Capital 766 667
Dulay, Capital 766 667
Laurente, Capital 766 666
Cash 2 300 000
Arenas, Dulay and Laurente
Statement of Liquidation
Cash Non-Cash Liabilities A, Cap. D, Cap. L, Cap.
Assets
P/L Ratio 1/3 1 /3 1/3
Balances before 50 000 2 350 000 400 000 900 000 500 000 600 000
Liquidation
Sale of Non-cash
Assets and
Distibution of Gain 2 650 000 (2 350 000) 100 000 100 000 100 000
---------------=========----------------------------------------------------------
Balances 2 700 000 400 000 1 000 000 600 00 700 00
Payment of
Liabilities
to Outsiders (400 000) (400 000)
--------------------------------------=======---------------------------------------------Balances 2 300 000 1 000 000 600 000 700 000
Problem #3
1)Sale on Non-cash Assets
Cash 1 133 700
Merchandise Inventory 612 300
Other Assets 472 680
Gain on Realization 48 720
2)Distribution of Gain on Realization based on Partners' P/L Ratio
Gain on Realization 48 720
Gulane, capital 19 488
Tormis, Capital 19 488
Sailadin, Capital 9 744
3)Payment of Liabilities
Accounts Payable 131 350
Cash 131 350
4)Distribution of Cash to Partners
Gulane, Capital 568 608
Tormis, Capital 568 608
Sailadin, Capital 284 304
Cash 1 421 520
(page 1)
-Añora, Karl Joshua C. BSA-1A
(page 2)
ReplyDeleteProblem #8
1)150 000 + 70 000 = 220 000 - 160 000 = 60 000
======
2)To be divided equally
60 000/2 = 30 000
3)160 000/2 = 80 000
Soria, Capital 80 000
Paras, Capital 80 000
Problem #11
Aparece, Bantilles and Lerin
Statement of Liquidation
Cash Non-Cash Liab. B., Loan A, Cap. B, Cap. L, Cap.
Assets
P/L Percentage 20% 40% 40%
Balances before 25 000 350 000 240 00 30 000 20 000 60 000 25 000
Liquidation
Sale of Non-cash
Assets and
Distibution of Gain 260 000 (350 000) (18 000) (36 000) (36 000)
-------------========--------------------------------------------------------------
Balances 285 000 240 000 30 000 2 000 24 000 (11 000)
Payment of
Liabilities
to Outsiders (240 000) (240 000)
------------------------------========----------------------------------------------------
Balances 45 000 30 000 2 000 24 000 (11 000)
Right of
Offset by
Bantilles (30 000) 30 000
--------------------------------------------------------=======----------------------------------- Balances 45 000 2 000 64 000 (11 000)
-Añora, Karl Joshua C. BSA-1A
Legua, John Joseph F. BSA- 1
ReplyDeletePROBLEM # 1
Arenas, Dulay and Laurente Partnership
Statement of Liquidation
June 30, 2015
Cash Non- Cash Assets Liabilities Arenas, Capital Dulay, Capital Laurente, Capital
P/L Percentages 1/3 1/3 1/3
Balances before
Liquidation
50,000
2,350,000
400,000
900,000
500,000
600,000
Sales of Non-Cash
Assets and
Distribution of
Gains
2,650,000
(2,350,000)
100,000
100,000
100,000
Balances
Payment
Of Liabilities 2,700,000
(400,000) 400,000
(400,000) 1,000,000 600,000 700,000
Balances
Payments to
Partners 2,300,000
(2,300,000) 1,000,000
(1,000,000) 600,000
(600,000) 700,000
(700,000)
Date Account Title Debit Credit
June 30, 2015 Cash
Gain On Realization
Non- Cash Assets
Sales of Non- Cash Assets. 2,650,000
300,000
2,350,000
Gain on Realization
Arenas, Capital
Dulay, Capital
Laurente, Capital
Distribution of gain on realization to partners 300,000
100,000
100,000
100,000
Liabilities
Cash
Payment of the Liabilities. 400,000
400,000
Arenas, Capital
Dulay, Capital
Laurente, Capital
Cash
Distribution of cash to the partners. 1,000,000
600,000
700,000
2,300,000
PROBLEM # 2 Gulane, Tormis, and Sailadin Partnership
Date Account Title Debit Credit
June 30, 2015 Cash
Loss on Realization
Merchandise Inventory
Sales of Merchandise Inventory 582,800
25, 500
612, 300
Cash
Gain on Realization
Other Assets
Sales of Other Assets. 550, 000
78, 220
472, 680
Gains on Realization
Loss on Realization
Gulane, Capital
Tormis, Capital
Sailadin, Capital
Distribution of Gains and Loss on Realization. 78, 220
25, 500
19, 488
19, 488
9,744
Accounts Payable
Cash
Payment of Liabilities. 131, 350
131, 350
Gulane, Capital
Tormis, Capital
Sailadin, Capital
Cash
Payment to Partners.
Legua, John Joseph F. BSA- 1
ReplyDeletePROBLEM # 3 Romulo Soria and Elizabeth Paras Partnership
1. What is the amount of loss or gain on realization?
Soria, Capital: P 150,000
Paras, Capital: 70,000
Balance: 220,000
Cash after Realization and
Payment of Liabilities: 160,000
Gain/Loss: (40,000)
2. How should the loss or gain be divided between the partners?
Since partners have an agreed ratio which is to divide profits and losses equally, each partner will have half of the total loss incurred.
3. How much cash should be distributed to each partner?
Soria, Capital Paras, Capital
Capital Balances Before Equalization: 150, 000 70,000
Distribution of Loss: (40,000 x ½) (20,000) (20,000)
Cash Distribution: 130,000 50,000
PROBLEM # 4
Aparece, Bantilles, and Lerin Partnership
Statement of Liquidation
December 31, 2015
Cash Non- Cash Assets Liabilities Loans, Bantilles Aparece, Capital Bantilles, Capital Lerin, Capital
P/L Percentages 20 40 40
Balances before
Liquidation
25,000
475,000
240,000
30,000
120,000
50,000
60,000
Sales of Non-Cash
Assets and
Distribution of
Gains
260,000
(475,000)
(43,000)
(86,000)
(86,000)
Balances
Payment
Of Liabilities 285,000
(240,000) 240,000
(240,000) 30,000 77,000 (36,000) (26,000)
Balances
Right of Offset by
Bantilles 45,000
30,000
(30,000) 77,000
(36,000)
30,000 (26,000)
Balances
Additional
Investments 45,000
31,000 77,000 (6,000)
(6,000) (26,000)
(25,000)
Balances
Additional Loss
To Aparece 76, 000 77,000
(1,000) (1,000)
1,000
Balances
Payment to
Partners 76,000
(76,000) 76,000
(76,000)
Renz P. Morta BSA-1A
ReplyDeletePROLEM # 1
Arenas, Dulay and Laurante
Statement of Liquidation
June 30, 2015
Cash Non-Cash Assets Liabilities Arenas, Capital Dulay, Capital Laurante, Capital
Profit and Loss Ratio 1/3 1/3 1/3
Balances Prior to
Liquidation P 50,000 P 2,350,000 P 400,000 P 900,000 P 500,000 P 600,000
Sale of Non-Cash
Assets 2,650,000 (2,350,000) 100,000 100,000 100,000
Balances P 2,700,000 P 400,000 P 1,000,000 P 600,000 P 700,000
Payment of Liabilities ( 400,000) ( 400,000)
Balances P 2,300,000 P 1,000,000 P 600,000 P 700,000
Payments to Pratners 2,300,000 (1,000,000) ( 600,000) ( 700,000)
Journal Entries :
(1) 2015
June 30 Cash 2,650,000
Gain on Realization 300,000
Non-Cash Assets 2,350,000
Sale of non-cash assets.
(2) / Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurante, Capital 100,000
Distribution of gain on realization
to partners.
(3)
/ Liabilities 400,000
Cash 400,000
Payment of liabilities.
(4) / Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurante, Capital 700,000
Cash 2,300,000
Distribution of partnership cash
to partners.
RENZ MORTA BSA1A
ReplyDeletePROBLEM # 3
Answers :
2015
June 30 Cash 1,133,700
Gain on Realization 48,720
Merchandise Inventory 612,300
Other Assets 472,680
Sale of non-cash assets
/ Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capial 9,744
Distribution of gains on realization
to partners.
/ Accounts Payable 131,350
Cash 131,350
Payment of liabilities.
/ Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capial 348,144
Cash 1,421,520
Distribution of partnership cash
to parters.
PROBLEM # 8
Answers:
(1) What is the amount of loss or gain on realization?
Answer: P 60,000 (*P 220,000 - P160,000= P60,000)
(2) How should the loss or gain be divided between partners?
Answer: According to their profit and loss agreement which is equally ( 50% and 50% respectively)
(3) How much cash should be distributed to each partner?
Answer: P 120,000 and P 40,000 , respectively.
RENZ MORTA BSA1A
ReplyDeletePROBLEM # 11
ABL Partnership
Statement of Liquidation
December 1, 2015
Cash Non-Cash Accounts Loans Aparece, Capital Bantilles, Capital Lerin, Capital
Assets Payable Payable
P/L Ratio 20% 40% 40%
Balances prior to
Liquidation P25,000 P 475,000 P 240,000 P 30,000 P 120,000 P 50,000 P 60,000
Sale of Non-Cash
Assets 260,000 ( 475,000) ( 43,000) ( 86,000) ( 86,000)
Balances P 285,000 P 240,000 P 30,000 P 77,000 (P 36,000) (P 26,000)
Payment of
Liabilities (240,000) (240,000)
Balances P 45,000 P 30,000 P 77,000 (P 36,000) (P 26,000)
Right of Offset (30,000) 30,000
Balances P 45,000 P 77,000 (P 6,000) (P 26,000)
Investment of
Bantilles 6,000 6,000
Balances P 51,000 P 77,000 (P 26,000)
Investment of
Lerin 25,000 25,000
Balances P 76,000 P 77,000 (P 1,000)
Deficiency ab-
sorbed by
Aparece and
Bantilles (333) (P 667) 1,000
Balances P 76,000P 76,667 (P 667)
Additional
Investment 667 667
Balances P 76,667 P 76,667
Payments to
Partners (76,667) (76,667)
FLORENDO,ALDWIN Q. BSA-1A (page 1)
ReplyDeleteProblem#1
Arenas, Dulay and Laurente
Statement of Liquidation
June 30,2015
Cash Non-cash Assets Liabilities Arenas, Capital Dulay, Capital Laurente, Capital
Before 50,000 2,350,000 400,000 900,000 500,000 600,000
Liquidation
Sale Of Non-Cash
assets and 2,650,000 (2,350,000) 100,000 100,000 100,000
Distribution
of Gain
Payment of (400,000) (400,000)
liabilities =========
Payments (2,300,000) (1,000,000) (600,000) (700,000)
to Partners ======== ======== ======== =========
JE:
Cash 2,650,000
Gain on Realization 300,000
Non-Cash assets 2,350,000
Sale of non-cash assets.
Gain on realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
Distribute gain on realization of non-Cash assets.
Liabilities 400,000
Cash 400,000
Payment of liabilities.
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
Distribution of cash to the partners.
Problem#3
Cash 582,800
Loss on realization 29,500
Merchandise inventory 612,300
Sale of merchandise inventory
Gulane, Capital 11,800
Tormis, Capital 11,800
Sailadin, Capital 5,900
Loss on Realization 29,500
Distribute loss on realization.
Cash 550,900
Gain on Realization 78,220
Other Assets 472,680
Sale of other assets.
Gain on realization 78,220
Gulane, Capital 31,228
Tormis, Capital 31,228
Sailadin, Capital 15,644
Distribute gain on realization.
Accounts payable 131,350
Cash 131,350
Payment of liabilities.
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Distribution of cash to the partners.
FLORENDO, ALDWIN Q. BSA-1A (page 2)
ReplyDeleteProblem#8
1. Loss on realization : P 60,000
2. P 30,000
3. P 80,000
Problem#11
ABL Partnership
Statement of Liquidation
December 1, 2015
Cash Non-Cash Accounts Loans Aparece Capital Bantilles,Capital Lerin,Capital
Assets Payable Payable
P/L Ratio 20% 40% 40%
Balances prior to
Liquidation P25,000 P 475,000 P 240,000 P 30,000 P 120,000 P 50,000 P 60,000
Sale of Non-Cash
Assets 260,000 ( 475,000) ( 43,000) ( ( 86,000) ( 86,000)
Balances P 285,000 P 240,000 P 30,000 P 77,000 (P 36,000) (P 26,000)
Payment of
Liabilities (240,000) (240,000)
Balances P 45,000 P 30,000 P 77,000 (P 36,000) (P 26,000)
Right of Offset (30,000) 30,000
Balances P 45,000 P 77,000 (P 6,000) (P 26,000)
Investment of
Bantilles 6,000 6,000
Balances P 51,000 P 77,000 (P 26,000)
Investment of
Lerin 25,000 25,000
Balances P 76,000 P 77,000 (P 1,000)
Deficiency ab-
sorbed by
Aparece and
Bantilles (333) (P 667) 1,000
======
Balances P 76,000 P 76,667 (P 667)
Additional
Investment 667 667
=====
Balances P 76,667 P 76,667
Payments to
Partners (76,667) (76,667)
======== =======
Problem #1
ReplyDelete1.)
Cash 2,650,000
Gain on Realization 300,000
Non-Cash Assets 2,350,000
2.)
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente Capital, 100,000
3.)
Liabilities 400,000
Cash 400,000
4.)
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
Arenas, Dulay and Laurente
Statement of Liquidation
June 30, 2015
Cash Non-Cash Liabilities Arenas, Dulay, Laurente
Assets Caputal Capital Capital
Division of P/L 1/3 1/3 1/3
Balances before
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of Non-'Cash
Assets & Distri-
bution of Gain 2,650,000 (2,350,000) 100,000 100,000 100,000
-----------—---——---------------------------------------------------------------------
Balances 2,700,000 ------------- 400,000 1,000,000 600,000 700,000
Payment of
Liabilities (400,000) (400,000)
---------------------------------------------------------------------------------------
Balances 2,300,000 ------------ 1,000,000 600,000 700,000
Payments
to Partners 2,300,000 1,000,000 600,000 700,000
-----------------------------------------------------------------------------------------
------------- ---------------------------------------------
Problem #3
1.)
Cash 1,133,700
Gain on Realization 48,720
Non-Cash 1,084,980
2.)
Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capita 9,744
3.)
Liabilities 131,350
Cash 131,350
4.)
Gulane, Capital 581,088
Tormis,Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Problem #8
1.)
Loss in Realization : 60,000
2.) Equally
Soria 60,000 * 50% : 30,000
Paras 60,000 * 50% : 30,000
3.)
Soria, Capital 120,000
Paras, Capital 40,000
Aparece, Bantilles, & Lerin
Statement of Liquidation
December 10, 2015
Cash Non-Cash Liabilities Aparece, Bantilles, Lerin,
Assets Capital Capital Capital
P/L Percentage 20% 40% 40%
Balances before
Liquidation 25,000 475,000 270,000 120,000 50,000 60,000
Sale of Non-
cash Assets 260,000 (475,000) (43,000) (86,000) (86,000)
--------------------------------------------------------------------------------------
Balances 285,000 ----------- 270,000 77,000 (36,000) (26,000)
Payment of
Liabilities (270,000) (270,000)
---------------------------------------------------------------------------------------
Balances 15,000 ----------- 77,0000 (36,000) (26,000)
Additional
Investment
by Bantilles
& Lerin 62,000 36,000 26,000
---------------------------------------------------------------------------------------
Balances 77,000 77,000 --------------------------
Payments
to Partner (77,000) (77,000)
---------- ----------
---------- ----------
Noemi Trisha N. Diolola
Problem #1
ReplyDelete1.)
Cash 2,650,000
Gain on Realization 300,000
Non-Cash Assets 2,350,000
2.)
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente Capital, 100,000
3.)
Liabilities 400,000
Cash 400,000
4.)
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
Arenas, Dulay and Laurente
Statement of Liquidation
June 30, 2015
Cash Non-Cash Liabilities Arenas, Dulay, Laurente
Assets Caputal Capital Capital
Division of P/L 1/3 1/3 1/3
Balances before
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of Non-'Cash
Assets & Distri-
bution of Gain 2,650,000 (2,350,000) 100,000 100,000 100,000
-----------—---——---------------------------------------------------------------------
Balances 2,700,000 ------------- 400,000 1,000,000 600,000 700,000
Payment of
Liabilities (400,000) (400,000)
---------------------------------------------------------------------------------------
Balances 2,300,000 ------------ 1,000,000 600,000 700,000
Payments
to Partners 2,300,000 1,000,000 600,000 700,000
-----------------------------------------------------------------------------------------
------------- -------------------------------------
Problem #3
1.)
Cash 1,133,700
Gain on Realization 48,720
Non-Cash 1,084,980
2.)
Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capita 9,744
3.)
Liabilities 131,350
Cash 131,350
4.)
Gulane, Capital 581,088
Tormis,Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Problem #8
1.)
Loss in Realization : 60,000
2.) Equally
Soria 60,000 * 50% : 30,000
Paras 60,000 * 50% : 30,000
3.)
Soria, Capital 120,000
Paras, Capital 40,000
Aparece, Bantilles, & Lerin
Statement of Liquidation
December 10, 2015
Cash Non-Cash Liabilities Aparece, Bantilles, Lerin,
Assets Capital Capital Capital
P/L Percentage 20% 40% 40%
Balances before
Liquidation 25,000 475,000 270,000 120,000 50,000 60,000
Sale of Non-
cash Assets 260,000 (475,000) (43,000) (86,000) (86,000)
--------------------------------------------------------------------------------------
Balances 285,000 ----------- 270,000 77,000 (36,000) (26,000)
Payment of
Liabilities (270,000) (270,000)
---------------------------------------------------------------------------------------
Balances 15,000 ----------- 77,0000 (36,000) (26,000)
Additional
Investment
by Bantilles
& Lerin 62,000 36,000 26,000
---------------------------------------------------------------------------------------
Balances 77,000 77,000 --------------------------
Payments
to Partner (77,000) (77,000)
---------- ----------
---------- ----------
CLARISSA VALERIO BSA 1A
ReplyDeletePROBLEM #1
Arenas, Dulay and Laurente
Statement of Liquidation
Dec.31,2015
Cash NCA liab arenas,cap dulay,cap laurente,cap
P/L 1/3 1/3 1/3
Bal. 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of NCA 2,650,000 (2,350,000) 100,000 100,000 100,000
Bal. 2,700,000 400,000 1,000,000 600,000 700,000
Payment (400,000) (400,000)
bal. 2,300,000 1,000,000 600,000 700,000
Payment (2,300,000) (1,000,000) (600,000) (700,000)
ENTRIES:
1.
Cash 2,650,000
Non-cash assets 2,350,000
Gain on realization 300,000
Sale of all non-cash assets.
2.
Gain on realization 300,000
Arenas,cap 100,000
Dulay,cap 100,000
Laurente,cap 100,000
Distribution of gain on realization.
3.
Liabilities 400,000
Cash 400,000
Payment of liabilities.
4.
Arenas,cap 1,000,000
Dulay,cap 600,000
Laurente,cap 700,000
Cash 2,300,000
Distribution of cash to partners.
PROBLEM #3
1.
Cash 582,800
Loss on realization 29,500
Merchandise inventory 612,300
Sale of merchandise inventory.
Cash 550,900
Other assets 472,680
Gain on realization 78,220
Sale of other assets.
2.
Gulane,cap 11,800
Tormis,cap 11,800
Sailadin,cap 5,900
Loss on realization 29,500
Distribution of loss on realization.
Gain on realization 78,200
Gulane,cap 31,288
Tormis,cap 31,288
Sailadin,cap 15,644
` distribution of gain on realization.
3.
Liabilities 131,350
Cash 131,350
Payment of liabilities.
4.
Gulane,cap 581,088
Tormis,cap 456,288
Sailadin ,cap 384,144
Cash 1,421,520
Distribution of cash to the partners.
PROBLEM#8
1.
Cash bal: 160,000
Less:Sonia,cap 150,000
Paras,cap 70,000
Loss on realization: (60,000)
2.
Sonia,cap: (60,000)x 50%= (30,000)
Paras,cap: (60,000)x 50%= (30,000)
3.
Sonia,cap paras,cap
Bal. 150,000 70,000
Loss on realization (30,000) (30,000)
Capital bal. 120,000 40,000
PROBLEM #11
Aparecee, Bantilles , And Lerin
Statement of liquidation
Dec.31,2015
` cash NCA Liab Bantilles,LP Aparecee,capBantilles,cap Lerin,cap
P/L 20% 40% 40%
Bal 25,000 475,000 240,000 30,000 120,000 50,0000 60,000
Sale of NCA260,000(475,000) (43,000) (86,000) (86,000)
Bal 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment liab(240,000) (240,000)
Bal 45,000 30,000 77,000 (36,000) (26,000)
Right to offset (30,000) 30,000
Bal. 45,000 77,000 (6,000) (26,000)
Add,investment 25,000 25,000
Bal. 70,000 77,00 (6,000) (1,000)
Add.investment .6,000 6,000
Bal. 76,000 77,000 (1,000)
Absorption (1,000) 1,000
Bal. 76,000 76,000
Payment (76,000) (76,000)
CLARISSA VALERIO BSA 1A
ReplyDeletePROBLEM #1
Arenas, Dulay and Laurente
Statement of Liquidation
Dec.31,2015
Cash NCA liab arenas,cap dulay,cap laurente,cap
P/L 1/3 1/3 1/3
Bal. 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of NCA 2,650,000 (2,350,000) 100,000 100,000 100,000
Bal. 2,700,000 400,000 1,000,000 600,000 700,000
Payment (400,000) (400,000)
bal. 2,300,000 1,000,000 600,000 700,000
Payment (2,300,000) (1,000,000) (600,000) (700,000)
ENTRIES:
1.
Cash 2,650,000
Non-cash assets 2,350,000
Gain on realization 300,000
Sale of all non-cash assets.
2.
Gain on realization 300,000
Arenas,cap 100,000
Dulay,cap 100,000
Laurente,cap 100,000
Distribution of gain on realization.
3.
Liabilities 400,000
Cash 400,000
Payment of liabilities.
4.
Arenas,cap 1,000,000
Dulay,cap 600,000
Laurente,cap 700,000
Cash 2,300,000
Distribution of cash to partners.
PROBLEM #3
1.
Cash 582,800
Loss on realization 29,500
Merchandise inventory 612,300
Sale of merchandise inventory.
Cash 550,900
Other assets 472,680
Gain on realization 78,220
Sale of other assets.
2.
Gulane,cap 11,800
Tormis,cap 11,800
Sailadin,cap 5,900
Loss on realization 29,500
Distribution of loss on realization.
Gain on realization 78,200
Gulane,cap 31,288
Tormis,cap 31,288
Sailadin,cap 15,644
` distribution of gain on realization.
3.
Liabilities 131,350
Cash 131,350
Payment of liabilities.
4.
Gulane,cap 581,088
Tormis,cap 456,288
Sailadin ,cap 384,144
Cash 1,421,520
Distribution of cash to the partners.
PROBLEM#8
1.
Cash bal: 160,000
Less:Sonia,cap 150,000
Paras,cap 70,000
Loss on realization: (60,000)
2.
Sonia,cap: (60,000)x 50%= (30,000)
Paras,cap: (60,000)x 50%= (30,000)
3.
Sonia,cap paras,cap
Bal. 150,000 70,000
Loss on realization (30,000) (30,000)
Capital bal. 120,000 40,000
PROBLEM #11
Aparecee, Bantilles , And Lerin
Statement of liquidation
Dec.31,2015
` cash NCA Liab Bantilles,LP Aparecee,capBantilles,cap Lerin,cap
P/L 20% 40% 40%
Bal 25,000 475,000 240,000 30,000 120,000 50,0000 60,000
Sale of NCA260,000(475,000) (43,000) (86,000) (86,000)
Bal 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment liab(240,000) (240,000)
Bal 45,000 30,000 77,000 (36,000) (26,000)
Right to offset (30,000) 30,000
Bal. 45,000 77,000 (6,000) (26,000)
Add,investment 25,000 25,000
Bal. 70,000 77,00 (6,000) (1,000)
Add.investment .6,000 6,000
Bal. 76,000 77,000 (1,000)
Absorption (1,000) 1,000
Bal. 76,000 76,000
Payment (76,000) (76,000)
Page 1 of 2
ReplyDeleteProblem 1
Arenas, Dulay, and Laurente
Statement of Liquidation
June 30,2015
Cash Non-Cash Liabilities A, D, L,
Asset Capital Capital Capital
P/L Ratio 1/3 1/3 1/3
Balances before
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of NCA and
Dist. GOR 2,650,000 (2,350,000) 100,000 100,000 100,000
Balances 2,700,000 1,000,000 600,000 700,000
Payment of
Liabilities (400,000) (400,000)
Balances 2,300,000 1,000,000 600,000 700,000
Payments to
Partners (2,300,000) (1,000,000) (600,000) (700,000)
a) Sale of Non-Cash Asset
Cash 2,650,000
G.O.R 300,000
N/C Asset 2,350,000
b) Distribution of Gain on Realization to Partners
Gain on Realization 300,000
A,Capital 100,000
D,Capital 100,000
L,Capital 100,000
c) Payment of Liabilities
Liabilities 400,000
Cash 400,000
d) Distribution of Cash to Partners
A,Capital 1,000,000
D,Capital 600,000
L,Capital 700,000
Cash 2,300,000
Problem 3
a) Sale of Non-Cash Asset
Cash 1,133,700
Gain on Realization 48,720
Non-Cash Asset 1,084,900
b) Distribution of Gain on Realization
Gain on Realization 48,720
G,Capital 19,488
T,Capital 19,488
S,Capital 9,744
c) Payment of Liabilities
Liabilities 131,350
Cash 131,350
d) Distribution of Cash to Partners
G,Capital 581,088
T,Capital 456,288
S,Capital 384,144
Cash 1,421,520
Page 2 of 2
ReplyDeleteProblem 8
1. 60,000
2. Agreement
3. Soria 120,000
Paras 40,000
Problem 11
ABL Partnership
Statement of Liquidation
December 1,2015
Cash Non-Cash Liabilities B, A, B, L,
Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40%
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of Non-Cash
Asset and Dist.
of Loss 260,000 (475,000) (43,000) (86,000) (86,000)
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of
Liabilities (240,000) (240,000)
Balances 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset
by Bantilles (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional Losses
to Apparece (32,000) 6,000 26,000
Balances 45,000 45,000
Payments
to Partners (45,000) (45,000)
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 350,000
Less: Personal Liabilities 230,000 240,000 325,000
Excess (Deficit) 20,000 60,000 25,000
page 1 of 2
ReplyDeleteProblem#1
Arenas, Dulay, and Laurente
Statement of Liquidation
June 30,2015
Cash Non-Cash Liabilities Arenas, Dulay, Laurente,
Asset Capital Capital Capital
P/L Ratio 1/3 1/3 1/3
Balances before
Liquidation 50K 2,350K 400K 900K 500K 600K
NCA and GOR 2,650K (2,350K) 100K 100K 100K
Balances 2,700K 1,000K 600K 700K
Payment of
Liabilities (400K) (400K)
Balances 2,300K 1,000K 600K 700K
Payments to
Partners (2,300K) (1,000K) (600K) (700K)
a) Sale of NCA
Cash 2,650K
G.O.R 300K
N/C Asset 2,350K
b) Distribution of GOR to Partners
Gain on Realization 300K
A,Capital 100K
D,Capital 100K
L,Capital 100K
c) Payment of Liabilities
Liabilities 400K
Cash 400K
d) Distribution of Cash to Partners
A,Capital 1,000K
D,Capital 600K
L,Capital 700K
Cash 2,300K
Problem#3
a) Sale of NCA
Cash 1,133,700
Gain on Realization 48,720
Non-Cash Asset 1,084,900
b) Distribution of GOR
Gain on Realization 48,720
G,Capital 19,488
T,Capital 19,488
S,Capital 9,744
c) Payment of Liabilities
Liabilities 131,350
Cash 131,350
d) Distribution of Cash to Partners
G,Capital 581,088
T,Capital 456,288
S,Capital 384,144
Cash 1,421,520
Problem# 8
1. 60,000
2 Agreement in Sharing P/L ratio.
3. Soria: 120,000 Paras 40,000
Mary Mae C. Cesora BSA-1B
ReplyDeleteProblem #1
Cash 2,650,000
Gain on Realization 300 000
Non-Cash Assets 2 350 000
Gain on Realization 300 000
Arenas, Capital 100 000
Dulay, Capital 100 000
Laurante, Capital 100 000
Liabilities 400 000
Cash 400 000
Arenas, Capital 1 000 000
Dulay, Capital 600 000
Laurante, Capital 700 000
Cash 2 300 000
Problem #2
June 30 Cash 582 800
Loss on Realization 29 500
Merchandise Inventory 612 300
Cash 550 900
Gain on Realization 78220
Other Assets 472 680
Gulane, Capital 11 800
Tormis, Capital 11 800
Sailadin, Capital 5 900
Loss on Realization 29 500
Gain on Realization 78220
Gulane, Capital 31 288
Tormis Capital 31 288
SAiladin Capital 15 644
page 2 of 2
ReplyDeleteProblem# 11
ABL Partnership
Statement of Liquidation
December 1,2015
Cash Non-Cash Liabilities B, A, B, L,
Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40%
Balances before
Liquidation 25K 475K 240K 30K 120K 50K 60K
Sale of NCA and Dist.
of Loss 260K (475K) (43K) (86K) (86K)
Balances 285K 240K 30K 77K (36K) (26K)
Payment of
Liabilities (240K) (240K)
BalanceS 45K 30K 77K (36K) (26K)
Right of Offset
by Bantilles (30K) 30K
Balances 45K 77K (6K) (26K)
Additional Losses
to Apparece (32K) 6K 26K
Balances 45K 45K
Payments
to Partners (45K) (45K)
Aparece Bantilles Lerin
Personal Assets 250K 300K 350K
Less: Personal Liabilities 230K 240K 325K
Excess (Deficit) 20K 60K 25K
Mary Mae C. Cesora BSA- 1B
ReplyDeleteProblem #3
1. Loss on Realization = 60 000
2. 60 000/2 = 30 000
3. 160 000/2 = 80 000
Problem # 1
ReplyDeleteArenas, Dulay, and Laurente
Statement of Liquidation
June 30,2015
Cash Non-Cash Liabilities A, D, L,
Asset Capital Capital Capital
P/L Ratio 1/3 1/3 1/3
Balances b4
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of NCA and
Dist. GOR 2,650,000 (2,350,000) 100,000 100,000 100,000
Balances 2,700,000 1,000,000 600,000 700,000
Payment of
Liabilities (400,000) (400,000)
Balances 2,300,000 1,000,000 600,000 700,000
Payments to
Partners (2,300,000) (1,000,000) (600,000) (700,000)
a) Sale of Non-Cash Asset
Cash 2,650,000
GOR 300,000
NCA 2,350,000
b) Distribution of Gain on Realization to Partners
GOR 300,000
A,Capital 100,000
D,Capital 100,000
L,Capital 100,000
c) Payment of Liabilities
Liabilities 400,000
Cash 400,000
d) Distribution of Cash to Partners
A,Capital 1,000,000
D,Capital 600,000
L,Capital 700,000
Cash 2,300,000
Problem 3
a) Sale of NCA
Cash 1,133,700
GOR 48,720
NCA 1,084,900
b) Distribution of GOR
GOR 48,720
G,Capital 19,488
T,Capital 19,488
S,Capital 9,744
c) Payment of Liabilities
Liabilities 131,350
Cash 131,350
d) Distribution of Cash to Partners
G,Capital 581,088
T,Capital 456,288
S,Capital 384,144
Cash 1,421,520
Page 1 of 2
Problem # 1:
ReplyDelete1. Cash 2 650 000
Non-cash Assets 2 350 000
Gain on Realization 300 000
Sale of non-cash assets.
2. Gain on Realization 300 000
Arenas, Capital 100 000
Dulay, Capital 100 000
Distribution of Gain on Realization.
3. Liabilities 400 000
Cash 400 000
Payment of liabilities.
4.Arenas, Capital 766 667
Dulay, Capital 766 666
Laurente, Capital 766 667
Cash 2 300 000
Distribution of Cash.
ADL Partnership
Statement of liquidation
June 30, 2015
Cash Non-cash assets Liabilities Arenas, Capital Dulay, Capital Laurente, Capital
1/3 1/3 1/3
Balances before liquidation 50 000 2 350 000 400 000 900 000 500 000 600 000
Sale of Non-cash assets 2 650 000 (2 350 000) 100 000 100 000 100 000
(Dist. of losses) _________________________________________________________________________________________________________________
Balances: 2 700 000 0 400 000 1 000 000 600 000 700 000
Payment of liabilities (400 000) (400 000)
____________ _________________________________________________________________________
Balances: 2 300 000 0 1 000 000 600 000 700 000
Distribution of Cash (2 300 000) (1 000 000) (600 000) (700 000)
-----------------------------------------------------
Problem # 3:
Cash 582 800
Gulane, Capital 11 800
Tormis, Capital 11 800
Sailadin, Capital 5 900
Merchandise Inventory 612 300
Sale of inventory and distribution of loss on realization
Cash 550 900
Other Assets 472 680
Gulane, Capital 31 288
Tormis, Capital 31 288
Sailadin, Capital 15 644
Sale of other assets and distribution of gain on realization.
Acconts Payable 131 350
Cash 131 350
Payment of Liabilities.
Gulano, Capital 568 608
Tormis, Capital 568 608
Sailadin, Capital 2840304
Cash 1 421 520
Distribution of Cash.
-----------------------------------------------------
Problem # 8:
1. Cash to be distributed 160 000
less: Total Capital (220 000)
________
Realization (loss) (60 000)
2. Soria, Capital 30 000
Paras, Capital 30 000
Loss on Realization 60 000
Distribution of Loss on realization.
3. Soria: 160 000 x 50% = 80 000
Paras: 160 000 x 50% = 80 000
-----------------------------------------------------
Problem # 11:
ABL Partnership
statement of Liquidation
Dec. 31, 2014
Cash Non-Cash Assets Liabilities Bantilles, Loan Aparece, Capital Bantilles, Capital Lerin, Capital
20% 40% 40%
Balances before liquidation 25 000 475 000 240 000 30 000 120 000 50 000 60 000
Sale of non-cash assets 260 000 (475 000) (43 000) (86 000) (86 000)
(distribution of losses __________________________________________________________________________________________________________________________________________
Balances 285 000 240 000 30 000 77 000 (36 000) (26 000)
Payment of liabilities (240 000) (240 000)
_________ __________________________________________________________________________________________________
Balances 45 000 30 000 77 000 (36 000) (26 000)
Right to offset (30 000) 30 000
_________ __________________________________________________________________________________
Balances 45 000 77 000 (6 000) (26 000)
Additional Loss: (8 667) (17 333) 26 000
Aparece & Bantilles _________ __________________________________________________________
45 000 68 333 (23 333)
Additonal Investment: Bantilles 23 333` 23 333
_________ __________________________________________________________
Balances 68 333 68 333
Payment to Aparece (68 333) (68 333)
Problem # 8
ReplyDelete1.) loss on realization 60,000
2.) Agreed P/L ratio.
3.) Soria: 120,000
Paras 40,000
Problem # 11
ABL Partnership
Statement of Liquidation
December 1,2015
Cash Non-Cash Liabilities B, A, B, L,
Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40%
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of NCA and Dist.
of Loss 260,000 (475,000) (43,000) (86,000) (86,000)
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of
Liabilities (240,000) (240,000)
BalanceS 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset
by Bantilles (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional Losses
to Apparece (32,000) 6,000 26,000
Balances 45,000 45,000
Payments
to Partners (45,000) (45,000)
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 350,000
Less: Personal Liabilities 230,000 240,000 325,000
Excess (Deficit) 20,000 60,000 25,000
Page 2 of 2
Problem # 8
ReplyDelete1.) loss on realization 60,000
2.) Agreed P/L ratio.
3.) Soria: 120,000
Paras 40,000
Problem # 11
ABL Partnership
Statement of Liquidation
December 1,2015
Cash Non-Cash Liabilities B, A, B, L,
Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40%
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of NCA and Dist.
of Loss 260,000 (475,000) (43,000) (86,000) (86,000)
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of
Liabilities (240,000) (240,000)
BalanceS 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset
by Bantilles (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional Losses
to Apparece (32,000) 6,000 26,000
Balances 45,000 45,000
Payments
to Partners (45,000) (45,000)
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 350,000
Less: Personal Liabilities 230,000 240,000 325,000
Excess (Deficit) 20,000 60,000 25,000
Page 2 of 2
ARTECHE, RACHELLE NIñA V.
ReplyDeleteBSA - IB
Prob.1
1.) Cash 2,650,000
Gain 300,000
Non-cash Assets 2,350,000
2.) Gain 300,000
Arenas, Cap. 100,000
Dulay, Cap. 100,000
Laurente, Cap. 100,000
3.) Liab. 400,000
Cash 400,000
4.) Arenas, Cap. 1,000,000
Dulay, Cap. 600,000
Laurente, Cap. 700,000
Cash 2,300,000
Arenas, Dulay & Laurente
State't of Liq.
June 30, 2015
Cash Non-Cash Liab. Arenas, Dulay, Laurente,
Assets Cap. Cap. Cap.
P/L 33% 33% 34%
= = = = = = = = = = = =
Bal. before
Liq. 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of Non-cash
Assets & Dist.
Of Gain 2,650,000 (2,350,000) 100,000 100,000 100,000
- - - - - - - - = = = = = = = - - - - - - - - - - - - - - - - - - - - - - - - -
Bal. 2,700,000 400,000 1,000,000 600,000 700,000
Pay't of
Liab. (400,000) (400,000)
- - - - - - - - - = = = = = - - - - - - - - - - - - - - - - - - -
Bal. 2,300,000 1,000,000 600,000 700,000
Pay't to
Partn. (2,300,000) (1,000,000) (600,000) (700,000)
= = = = = = = = = = = = = = = = = = = = = =
****To be continued....
ARTECHE, RACHELLE NIñA V.
ReplyDeleteBSA - IB
(continuation of my previous comment)
Prob. #3
Cash 582,800
Loss 29,500
Merch. Invty. 612,500
Gulane, Cap. 11,800
Tormis, Cap. 11,800
Sailadin, Cap. 5,900
Loss 29,500
Cash 550,900
Gain 78,220
Other assets 472,680
Gain on Realization 78,220
Gulane, Cap. 31,288
Tormis, Cap. 31,288
Sailadin, Cap. 15,644
Acc. Payable 131,250
Cash 131,250
Gulane, Cap. 581,088
Tormis, Cap. 456,288
Sailadin, Cap. 384,144
Cash 1,421,520
Prob.#8
1.) Cash Bal. 160,000
Cap. bal. of partn. (150,000 + 70,000) = 220,000
- - - - - - -
Loss on Real'tion 60,000
= = = = =
2.) Soria: 60,000 ÷ 2 = 30,000
Paras: 60,000 ÷ 2 = 30,000
3.) Soria Paras
Cap. Bal. 150,000 70,000
Loss on Real'tion (30,000) (30,000)
- - - - - - - - - - - - - - - -
Cash pay't to
Partn. 120,000 40,000 = 160,000
= = = = = = = = = = = =
****To be continued....
#1
ReplyDeleteArenas, Dulay and Laurente
Statement of Liquidation
June 30, 2015
Cash Non-cash Liabilities Arenas Dulay Laurente
Assets
Balances before 50000 23500000 400000 900000 500000 600000
Liquidation
Sake of Non-cash 2650000 (2350000) 100000 100000 100000
Assets and
Distribution
of gain _______ _________ _________ ______ _______ ________
Balances 2700000 - 400000 1000000 600000 700000
Payment of
Liabilites (400000) (400000)
________ _________ _______ _______ _______
Balances 2300000 - 1000000 600000 700000
Payment to (2300000) (1000000)(600000) (700000)
Partners ======== ======== ======= ======
June 30 Cash 265000
Non-Cash Assets 2350000
Gain on Realization 300000
Sale of Non-cash
Assets
Gain on Realization 300000
Arenas, Capital 100000
Dulay, Capital 100000
Laurente, Capital 100000
Distribution of gain
on realization
Liabilities 400000
Cash 400000
Payment of
liabilites
Arenas, Capital 1000000
Dulay, Capital 600000
Laurente, Capital 700000
Cash 2300000
Distribution of cash
to partners
#3
Cash 1133700
Non-cash Assets 1084980
Gain on Realization 48720
Sale of Non-
cash Assets
Gain on Realization 48720
Gulane, Capital 19488
Tormis, Capital 19488
Sailadin, Capital 9744
Distribution of gain
on realization
Accounts Payable 131350
Cash 131350
Payment of
Liabilities
Gulane, Capital 581088
Tormis, Capital 456288
Sailadin, Capital 384144
Cash 1421520
Distribution of cash
to partners
Aaron John C. Añora BSA-1B P1
ARTECHE, RACHELLE NIñA V.
ReplyDeleteBSA - IB
(continuation of my previous comment)
Prob.11
Aparece, Bantilles & Lerin
State't of Liquidation
Dec. 1, 2015
Cash Non-Cash Accounts Bantilles, Aparece, Bantilles, Lerin,
Assets Payable Loan Cap. Cap. Cap.
P/L 20% 40% 40%
= = = = = = = = = = = = Bal. before
Liq. 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of
Non-cash
Assets 260,000 (475,000) (43,000) (86,000) (86,000)
- - - - - - = = = = = - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Bal. 285,000 240,000 30,000 77,000 (36,000) (26,000)
Pay't of
Acc.
Payable (240,000) (240,000)
- - - - - - - - = = = = = - - - - - - - - - - - - - - - - - - - - - - - - - - -
Bal. 45,000 30,000 77,000 (36,000) (26,000)
Add’l
Inv't
Of Lerin 25,000 25,000
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Bal. 70,000 30,000 77,000 (36,000) (1,000)
Add’l Losses
Of Aprece &
Bantilles (333) (667) 1,000
- - - - - - - - - - - - - - - - - - - - - - - - - = = = =
Bal. 70,000 30,000 76,667 (36,667)
Add’l
Inv't
of Bantilles 36,667 36,667
- - - - - - - - - - - - - - - - - - - - = = = = =
Pay't to
Partn. 106,667 30,000 76,667
= = = = = = = = = = = = = =
# 8
ReplyDelete1. 160000(220000)= (60000)/2= (30000) <-- loss on realization
2. Equally
3. 150000(30000)= 120000 <---- Cash to be received by Soria
70000(30000)= 40000 <---- Cash to be received by Paras
#11
ABL Partnership
Statement of Liquidation
December 1, 2015
Cash Non-cash Liabilities Banitlles,Loan Aprece Bantilles Lerin
Assets
Before 25000 475000 240000 30000 12000 50000 60000
Liquidation
Sale of Non- 260000 (475000) (43000) (86000) (86000)
Cash Assets
and distribu-
tion of losses______ _______ _________ ____________ _______ ______ _____
Balances 285000 - 240000 30000 77000 (36000)(26000)
Payment of (245000) (240000)
Liabilities ________ _________ ____________ ______ ______ _____
Balances 45000 - 30000 77000 (36000)(26000)
Right of offset (30000) (30000)
by Brillantes________ ____________ ______ ______ ______
Balances 45000 - 77000 (6000) (26000)
Additional 31000 6000 25000
Investment _________ _______ ______ _____
76000 77000 - (1000)
Loss to (1000) 1000
Aprece _________ _______ _____
Balances 76000 76000 -
Payment to (76000) (76000)
Aprece ======= ======
Aaron John Añora BSA-1B P2
Problem-1
ReplyDeleteArcenas,Dulay,Laurente
Statement of Liquidation
June 30, 2015
cash non-cash assets liability Arcenas Dulay Laurente
50,000 2,350,000 400,000 900,000 500,000 600,000
2,650,000 (2,350,000) 100,000 100,000 100,000
----------------------------------------------------------------------------------------------------------------
2,700,000 0 400,000 1,000,000 600,000 700,000
(400,000) (400,000)
----------------------------------------------------------------------------------------------------------------
2,300,000 0 0 1,000,000 600,000 700,000
(2,300,000) (1,000,000) (600,000) (700,000)
----------------------------------------------------------------------------------------------------------------
0 0 0 0 0 0
=================================================================
cash 2,650,000
non-cash asset 2,350,000
gain on realization 300,000
to record sale of non-cash asset
gain on realization 300,000
Arcenas,capital 100,000
Dulay,capital 100,000
Laurente,capital 100,000
To record distribution of gain
Liability 400,000
cash 400,000
To record payment of liability
Arcenas,capital 1,000,000
Dulay,capital 600,000
Laurente,capital 700,000
cash 2,300,000
To record distribution of cash
Problem-3.
ReplyDeletecash 582,800
loss on realization 29,500
Merchandise Inventory 612,300
To record sale on merchandise
Cash 550,000
Other assets 472,680
gain on realization 78,220
To record sale of asset
Gulane,capital 11,800
Tormis,capital 11,800
Sailadin,capital 5,900
Loss on realization 29,500
Distribution of loss of realization
Gain on realization 78,220
Gulane,capital 31,288
Tormis,capital 31,288
Sailadin,capital 15,644
Distribution of gain on realization
Accounts payable 131,350
cash 131,350
to record payment of liability
Gulane,capital 581,088
Tormis,capital 456,288
Sailadin,capital 384,144
cash 1,421,520
to record distribution of cash
ReplyDeleteProblem-8.
1.150,000 + 70,000 + n = 160,000
220,000 + n = 160,000
220,000 - 160,000 = n
60,000 = n loss on realization
======
2. equally
3.
Romulo Soria 150,000-30,000=120,000
======
Elizabeth Paras 70,000-30,000=40,000
=======
Problem-11
ABL Partnership
Statement of Liquidation
December 10, 2015
Cash Non-cash Assets Liability Bantilles Loan Aparece Bantilles Lerin
25,000 475,000 240,000 30,000 120,000 50,000 60,000
260,000 (475,000) (43,000) (86,000) (86,000)
---------------------------------------------------------------------------------------------------------------------------------
285,000 0 240,000 30,000 77,000 (36,000) (26,000)
(240,000) (240,000)
---------------------------------------------------------------------------------------------------------------------------------
45,000 0 0 30,000 77,000 (36,000) (26,000)
(30,000) (30,000)
---------------------------------------------------------------------------------------------------------------------------------
15,000 0 0 0 77,000 (36,000) (26,000)
61,000 36,000 25,000
----------------------------------------------------------------------------------------------------------------------------------
76,000 0 0 0 77,000 0 (1,000)
(1,000) 1,000
----------------------------------------------------------------------------------------------------------------------------------
76,000 0 0 0 76,000 0 0
(76,000) (76,000)
----------------------------------------------------------------------------------------------------------------------------------
0 0 0 0 0 0 0
=================================================================
CAUNTE, JAYMAR M. BSA 1-A
ReplyDelete#1
1.
Cash 2,650,000
Gain on Realization 300,000
Non-Cash Asset 2,350,000
2.
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
*300,000 / 3 = 100,000
3. Liabilities 400,000
Cash 400,000
4. Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
*900,000 + 100,000 = 1,000,000
500,000 + 100,000 = 600,000
600,000 + 100,000 = 700,000
2,300,000
Arenas ,Dulay, and Laurente Partnership
Statement of Liquidation
June 30, 2015
Cash Non-Cash Asset Liabilities Arenes,
Capital Dulay
, Capital Laurente, Capital
*Profit and Loss ratio
*Balances before Liquidation
*Sale of Non-Cash Asset
*Balances
*Payment of Liability
*Balances
*Payment to partners
50,000
2,650,000
2,350,000
(2,350,000)
400,000
1/3
900,000
100,000 1/3
500,000
100,000 1/3
600,000
100,000
2,700,000
(400,000) 400,000
(400,000) 1,00,000 600,000 700,000
2,300,000
(2,300,000)
1,000,000
(1,000,000) 600,000
(600,000) 700,000
(700,000)
#3
1.
Cash 1,133,700
Gain on Realization 48,720
Non-Cash Asset 1,084,980
Gain on realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
2.
Accounts Payable 131,350
Cash 131,350
3.
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
CAUNTE, JAYMAR M. -CONTINUATION
ReplyDelete#8
1.
Cash 160,000
Capital (220,000)
Loss on realization (60,000)
2.
The Loss is to be divided according to their agreed Profit and Loss ratio. And the agreed P/L ratio is Equally.
3.
(60,000) x 50% = (30,000)
(60,000) x 50% = (30,000)
(60,000)
Soria : 150,000 – 30,000 = 120,000
Paras: 70,000 - 30,000 = 40,000
#11
1.
Cash 260,000
Loss on Realization 215,000
Non-Cash Asset 475,000
Aparece, Capital 86,000
Bantilles, Capital 86,000
Lerin, Capital 43,000
Loss on Realization 215,000
2.
Liabilities 240,000
Cash 240,000
3.
Loans Payable 30,000
Bantilles, Capital 30,000
4.
Cash 32,000
Bantilles, Capital 6,000
Lerin, Capital 26,000
5.
Aparece, Capital 77,000
Cash 77,000
ABL Partnership
Statement of Liquidation
December 1, 2015
Cash Non-Cash Assset Liabilities Loans Payable-Bantilles Aparece, Capital Bantilles, Capital Lerin, Capital
*Profit and Loss ratio
*Balance Before Liquidation
*Sale of Non-Cash Asset
*Balances
*Payment of Liabiliity
*Balances
*Right of Offset
*Balances
*Investment of Partners
*Balance
*Payment to Partners
25,000
260,000
475,000
(475,000)
240,000
30,000 20%
120,000
(43,000) 40%
50,000
(86,000) 40%
60,000
(86,000)
285,000
(240,000) 240,000
(240,000) 30,000 77,000 (36,000) (26,000)
45,000
30,000
(30,000) 77,000 (36,000)
(30,000) (26,000)
45,000
32,000 77,000 (6,000)
6,000 (26,000)
26,000
77,000
(77,000) 77,000
(77,000)
Lagonoy, Lorie Lyn C. BSA-1B
ReplyDeletepp. 1 of
Problem #1
Arenas, Dulay and Laurante
Statement of Liquidation
June 30, 2015
Cash Non-Cash Assets Liabilities Arenas, Capital Dulay,
Capital Laurante, Capital
P/L Ratios 2/6 2/6 2/6
Balance before Liquidation P 50,000 P 2,350,000 P 400,000 P 900,000 P 500,000 P 600,000
Sale of Non-Cash Assets and Distribution Gain 2,650,000 (2,350,000) - 100,000 100,000 100,000
Balances P 2,700,000 P400,000 P 1,000,000 P 600,000 P 700,000
Payments of Liabilities to Outsiders (400,000) (400,000) - - -
Balances P 2,300,000 P1,000,000 P 600,000 P 700,000
Payments to Partners (2,300,000) (1,000,000) (P 600,000) (700,000)
1. Cash 2,650,000
Non-Cash Assets 2,350,000
Gain on Realization 300,000
To record the sale of non-cash assets.
2. Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurante, Capital 100,000
To record the distribution of gain on realization to the partners.
3. Liabilities 400,000
Cash 400,000
To record the payment of the liabilities.
4. Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurante, Capital 700,000
Cash 2,300,000
To record the distribution of cash to the partners.
Problem #3
Cash 582,800
Loss on Realization 29,500
Merchandise Inventory 612,300
To record the sale of merchandise inventory.
Gulane, Capital 11,800
Tormis, Capital 11,800
Sailadin, Capital 5,900
Loss on Realization 29,500
To record the distribution of loss on realization to the partners.
Cash 550,900
Other Assets 472,680
Gain on Realization 78,220
To record the sale of other assets.
Gain on Realization 78,220
Gulane, Capital 31,288
Tormis, Capital 31,288
Sailadin, Capital 15,644
To record the distribution of gain on realization to the partners.
Liabilities 131,350
Cash 131,350
To record the payment of liabilities.
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
To record the distribution of cash to partners.
PROBLEM #1:
ReplyDeleteCash Non-cash Liabilities Arenas, Dulay, Laurente,
Assets Cap. Cap. Cap.
Bal. before
Liq. 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of Non-cash
Assets and
Distribution of Gain 2,650,000 (2,350,000) 100,000 100,000 100,000
- - - - - - - - ========- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Bal. 2,700,000 400,000 1,000,000 600,000 700,000
Payment of Liab. (400,000) (400,000)
- - - - - - - - - =======- - - - - - - - - - - - - - - - - - - - - -
Bal. 2,300,000 1,000,000 600,000 700,000
Payments to Partner (2,300,000) (1,000,000)(600,000)(700,000)
========= =====================
Entries:
1. 3.
Cash 2,650,000 Liabilities 400,000
Non-cash Assets 2,350,000 Cash 400,000
Gain on realization 300,000
4.
2. Arenas, Capital 1,000,000
Gain on realization 300,000 Dulay, Capital 600,000
Arenas, Capital 100,000 Laurente, Capital 700,000
Dulay, Capital 100,000 Cash 2,300,000
Laurente, Capital 100,000
PROBLEM #3:
REQUIRED:
1.Sale of non-cash asset 2.
Cash 582,800 Gulane, Capital 11,800
Loss on realization 29,500 Tormis, Capital 11,800
Merchandise Inventory 612,300 Sailadin, Capital 5,900
Loss on realization 29,500
Cash 550,900
Gain on realization 78,220 Gain on realization 78,220
Other Assets 472,680 Gulane, Capital 31,288
Tormis, Capital 31,288
Sailadin, Capital 15,644
3. 4.
Accounts Payable 131,350 Gulane, Capital 581,088
Cash 131,350 Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
PROBLEM #8:
REQUIRED:
1. 2.
ANSWER: Loss on realization-60,000 ANSWER: Equally; because it is
the P/L ratio written in the book.
Soria, Capital 30,000
Paras, Capital 30,000
Loss on realization 60,000
3.
ANSWER: Soria, Capital 120,000
Paras, Capital 40,000
Cash 160,000
Submitted by: Aigie Grace M. Salvatierra BSA 1-B Page 1 of 2
Lagonoy, Lorie Lyn C. BSA-1B
ReplyDeletepp. 2 of 2
Problem #3
Cash 582,800
Loss on Realization 29,500
Merchandise Inventory 612,300
To record the sale of merchandise inventory.
Gulane, Capital 11,800
Tormis, Capital 11,800
Sailadin, Capital 5,900
Loss on Realization 29,500
To record the distribution of loss on realization to the partners.
Cash 550,900
Other Assets 472,680
Gain on Realization 78,220
To record the sale of other assets.
Gain on Realization 78,220
Gulane, Capital 31,288
Tormis, Capital 31,288
Sailadin, Capital 15,644
To record the distribution of gain on realization to the partners.
Liabilities 131,350
Cash 131,350
To record the payment of liabilities.
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
To record the distribution of cash to partners.
Problem #8
1. S, Capital P, Capital Total Capital Cash Balance
P 150,000+ P 70,000= P 220,000 - P 160,000 = P 60,000 Loss on Realization
2. According to the problem, P/L are shared equally, so:
Partners Soria Paras
Capital Balances P 150,000 P 70,000
Loss on Realization (30,000) (30,000)
Balances P 120,000 P 40,000
3. Soria, Capital 120,000
Paras, Capital 40,000
Cash 160,000
To record the distribution of cash.
Problem #11
ABL Partnership
Statement of Liquidation
December 31, 2015
Cash Non-Cash Assets Accounts Payable Loan Payable-Bantilles Aparece, Capital Bantilles, Capital Lerin,
Capital
P/L Percentages 20% 40% 40%
Balance before Liquidation P 25,000 P 475,000 P 240,000 P 30,000 P 120,000 P 50,000 P60,000
Sale of Non-Cash Assets and Distribution of Losses 260,000 (475,000) - - (43,000) (86,000) (86,000)
Balances P 285,000 P240,000 P 30,000 P 77,000 (P 36,000) (P 26,000)
Payments of Liabilities to Outsiders (240,000) (240,000) - - - -
Balances P 45,000 P 30,000 P 77,000 (P 36,000) (P 26,000)
Right of Offset by Bantilles - (30,000) - 30,000 -
Balances P 45,000 P 77,000 (6,000) (26,000)
Additional Investments by Bantilles and Lerin from their Personal Assets 31,000 - 6,000 25,000
Balances P 76,000 P 77,000 ( P1,000)
Additional Losses to Aparece - (1,000) 1,000
Balances P 76,000 P 76,000
Payments to Remaining Partner (76,000) (76,000)
PROBLEM #11:
ReplyDeleteCash Non-Cash Accounts Bantilles, Aparece, Bantilles, Lerin,
Assets Payable Loan Cap. Cap. Cap.
P/L Ratio 20% 40% 40%
= = = = = = = = = = = = Bal. before Liq. 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of Non-cash
Assets 260,000 (475,000) (43,000) (86,000) (86,000)
- - - - - - - = = = = = - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Bal. 285,000 240,000 30,000 77,000 (36,000)(26,000)
Payment of
Acc. Payable (240,000) (240,000)
- - - - - - - - = = = = = - - - - - - - - - - - - - - - - - - - - - - - - -
Bal. 45,000 30,000 77,000 (36,000) (26,000)
Add’l Investment
Of Lerin 25,000 25,000
- - - - - - - - - - - - -- - - - - - - - - - - - - - - - - - -
Bal. 70,000 30,000 77,000 (36,000) (1,000)
Add’l Losses
Of Aprece &
Bantilles (333) (667) 1,000
- - - - - - - - - - - - - - - - - - - - - - - - - - - = = =
Bal. 70,000 30,000 76,667 (36,667)
Add’l Investment
of Bantilles 36,667 36,667
- - - - - - - - - - - - - - - - - - - - = = = = =
Payment to
Partn. 106,667 30,000 76,667
= = = = = = = = = = = = =
Submitted by: Aigie Grace M. Salvatierra BSA 1-B Page 2 of 2
CAUNTE, JAYMAR M. -CONTINUATION
ReplyDelete#8
1.
Cash 160,000
Capital (220,000)
Loss on realization (60,000)
2.
The Loss is to be divided according to their agreed Profit and Loss ratio. And the agreed P/L ratio is Equally.
3.
(60,000) x 50% = (30,000)
(60,000) x 50% = (30,000)
(60,000)
Soria : 150,000 – 30,000 = 120,000
Paras: 70,000 - 30,000 = 40,000
#11
1.
Cash 260,000
Loss on Realization 215,000
Non-Cash Asset 475,000
Aparece, Capital 86,000
Bantilles, Capital 86,000
Lerin, Capital 43,000
Loss on Realization 215,000
2.
Liabilities 240,000
Cash 240,000
3.
Loans Payable 30,000
Bantilles, Capital 30,000
4.
Cash 32,000
Bantilles, Capital 6,000
Lerin, Capital 26,000
5.
Aparece, Capital 77,000
Cash 77,000
ABL Partnership
Statement of Liquidation
December 1, 2015
Cash Non-Cash Assset Liabilities Loans Payable-Bantilles Aparece, Capital Bantilles, Capital Lerin, Capital
*Profit and Loss ratio
*Balance Before Liquidation
*Sale of Non-Cash Asset
*Balances
*Payment of Liabiliity
*Balances
*Right of Offset
*Balances
*Investment of Partners
*Balance
*Payment to Partners
25,000
260,000
475,000
(475,000)
240,000
30,000 20%
120,000
(43,000) 40%
50,000
(86,000) 40%
60,000
(86,000)
285,000
(240,000) 240,000
(240,000) 30,000 77,000 (36,000) (26,000)
45,000
30,000
(30,000) 77,000 (36,000)
(30,000) (26,000)
45,000
32,000 77,000 (6,000)
6,000 (26,000)
26,000
77,000
(77,000) 77,000
(77,000)
Go Yvette
ReplyDeleteProblem # 1
1. Cash 2 650 000
Non-cash assets 2 350 000
Gain on realization 300 000
Sale of all non-cash assets.
2. Gain on realization 300 000
Arenas, capital 100 000
Dulay, capital 100 000
Laurente, capital 100 000
Distribution of gain on realization.
3. Liabilities 400 000
Cash 400 000
Payment of liabilities.
4. Arenas, capital 1 000 000
Dulay, capital 600 000
Laurente, capital 700 000
Cash 2 300 000
Distribution of cash.
Arenas DulayLaurente Partnership
Statement of Liquadation
June 30, 2015
Cash Non-cash Liabilities Arenas, capital Duly, capital Laurente, capital
50 000 2 350 000 400 000 900 000 500 000 600 0000
2 650 000 2 350 000 100 000 100 000 100 000
2 700 000 1 000 000 600 000 700 000
(400 000) (400 000)
2 300 000 1 000 000 600 000 700 000
(2 300 000) (1 000 000) (600 000) (700 000)
Problem #3
1. Cash 1 133 700
Non-cash assets 1 084 980
Gain on realization 248 720
Sale of all non-cash assets.
2. Gain on realization 248 720
Gulane, capital 99 488
Tormis, capital 99 488
Sailadin, capital 49 744
Distribution of gain on realization.
3. Liabilities 131 350
Cash 131 350
Payment of liabilities.
4. Gulane, capital 664 088
Tormis, capital 539 288
Sailadin, capital 424 144
Cash 1 422 120
Distribution of cash.
Problem # 8
1. 60 000
2. Gain on realization 60 000
Soria, capiatal 30 000
Paras, capital 30 000
Distribution of gain on realizarion.
3. Soria, capital 120 000
Paras, capital 40 000
Cash 160 000
Distribution of cash.
Problem # 11
Cash Non-cash LiabitiesBantilles, loan Aparence, capital Bantilles, capital Lerin, capital
100 000 400 000 240 000 30 000 120 000 50 000 60 000
260 000 (260 000) (28 000) (56 000) (56 000)
360 000 92 000 (6 000) 4 000
240 000 (240 000)
120 000 92 000 (6 000) 4 000
60 00060 000
180 000 92 000 54 000 4000
30 000 30 000
(150 000) (92 000) (54 000) (4 000)
Aparence Bantilles Lerin
Personal assets 250 000 300 000 350 000
Persona liabilities (230 000) (240 000) (325 000)
Investment (60 000)
20 000 0 25 000
Problem 1
ReplyDelete1.Cash 2,650,000
Gain of Realization 300,000
Non-Cash Assets 2,350,000
Sale of Non-Cash Assets
2.Gain of Realization 300,000
Arenas,Capital 100,000
Dulay,Capital 100,000
Laurente,Capital 100,000
Distribution of gain realization to partners
3.Liabilities 400,000
Cash 400,000
Payment of Liabilities
4.Arenas,Capital 766,667
Dulay,Capital 766,666
Laurente,Capital 766,667
Cash 2,300,00
Distribution of cash to partners
Problem 3
1.Cash 582,800
Loss of Realization 29,500
Merchandise Inventory 612,300
Sale of Merchandise Inventory
-Cash 550,900
Gain of Realization 78,220
Other Assets 472,680
Sale of Other Assets
2.Gulane,Capital 11,800
Tormis,Capital 11,800
Sailadin,Capital 5,900
Loss of Realization 29,500
Distribution of loss realization to partners
-Gain of Realization 78,220
Gulane,Capital 31,228
Tormis,Capital 31,228
Sailadin,Capital 15,644
Distribution of gain realization to partners
3.Accouts Payable 131,250
Cash 131,250
Payment of Liabilities
4.Gulane,Capital 568,608
Tormis,Capital 568,608
Sailadin,Capital 284,304
Cash 1,421,520
Distribution of cash to partners
Problem 8
1.150,000+70,000=220,000
(160,000)=60,000--> Gain of Realization
2.60,000/2=30,000--> Gain of Realization divided between the partners
3.160,000/2=80,000-->Cash to be distributed to partners
Problem 11
1.Cash 260,000
Loss of Realization 215,000
Non-Cash Assets 475,000
Sale of Non-Cash Assets
2. Aparece,Capital 43,000
Bantilles,Capital 86,000
Lerin,Capital 86,000
Loss of Realization 215,000
Distribution of loss realization to partners
3.Liabilities 270,000
Cash 270,000
Payment of Liabilities
4.Aparece,Capital 3,000
Bantilles,Capital 6,000
Lerin,Capital 6,000
Cash 15,000
Distribution of cash to partners
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 350,000
Less:Personal Liabilities (230,000) (240,000) (325,000)
Excess (Deficit) 20,000 60,000 25,000
---Romell Jimboy Belano
Problem 1
ReplyDelete1.Cash 2,650,000
Gain of Realization 300,000
Non-Cash Assets 2,350,000
Sale of Non-Cash Assets
2.Gain of Realization 300,000
Arenas,Capital 100,000
Dulay,Capital 100,000
Laurente,Capital 100,000
Distribution of gain realization to partners
3.Liabilities 400,000
Cash 400,000
Payment of Liabilities
4.Arenas,Capital 766,667
Dulay,Capital 766,666
Laurente,Capital 766,667
Cash 2,300,00
Distribution of cash to partners
Problem 3
1.Cash 582,800
Loss of Realization 29,500
Merchandise Inventory 612,300
Sale of Merchandise Inventory
-Cash 550,900
Gain of Realization 78,220
Other Assets 472,680
Sale of Other Assets
2.Gulane,Capital 11,800
Tormis,Capital 11,800
Sailadin,Capital 5,900
Loss of Realization 29,500
Distribution of loss realization to partners
-Gain of Realization 78,220
Gulane,Capital 31,228
Tormis,Capital 31,228
Sailadin,Capital 15,644
Distribution of gain realization to partners
3.Accouts Payable 131,250
Cash 131,250
Payment of Liabilities
4.Gulane,Capital 568,608
Tormis,Capital 568,608
Sailadin,Capital 284,304
Cash 1,421,520
Distribution of cash to partners
Problem 8
1.150,000+70,000=220,000
(160,000)=60,000--> Gain of Realization
2.60,000/2=30,000--> Gain of Realization divided between the partners
3.160,000/2=80,000-->Cash to be distributed to partners
Problem 11
1.Cash 260,000
Loss of Realization 215,000
Non-Cash Assets 475,000
Sale of Non-Cash Assets
2. Aparece,Capital 43,000
Bantilles,Capital 86,000
Lerin,Capital 86,000
Loss of Realization 215,000
Distribution of loss realization to partners
3.Liabilities 270,000
Cash 270,000
Payment of Liabilities
4.Aparece,Capital 3,000
Bantilles,Capital 6,000
Lerin,Capital 6,000
Cash 15,000
Distribution of cash to partners
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 350,000
Less:Personal Liabilities (230,000) (240,000) (325,000)
Excess (Deficit) 20,000 60,000 25,000
---Romell Jimboy Belano
Problem 1
ReplyDelete1.Cash 2,650,000
Gain of Realization 300,000
Non-Cash Assets 2,350,000
Sale of Non-Cash Assets
2.Gain of Realization 300,000
Arenas,Capital 100,000
Dulay,Capital 100,000
Laurente,Capital 100,000
Distribution of gain realization to partners
3.Liabilities 400,000
Cash 400,000
Payment of Liabilities
4.Arenas,Capital 766,667
Dulay,Capital 766,666
Laurente,Capital 766,667
Cash 2,300,00
Distribution of cash to partners
Problem 3
1.Cash 582,800
Loss of Realization 29,500
Merchandise Inventory 612,300
Sale of Merchandise Inventory
-Cash 550,900
Gain of Realization 78,220
Other Assets 472,680
Sale of Other Assets
2.Gulane,Capital 11,800
Tormis,Capital 11,800
Sailadin,Capital 5,900
Loss of Realization 29,500
Distribution of loss realization to partners
-Gain of Realization 78,220
Gulane,Capital 31,228
Tormis,Capital 31,228
Sailadin,Capital 15,644
Distribution of gain realization to partners
3.Accouts Payable 131,250
Cash 131,250
Payment of Liabilities
4.Gulane,Capital 568,608
Tormis,Capital 568,608
Sailadin,Capital 284,304
Cash 1,421,520
Distribution of cash to partners
Problem 8
1.150,000+70,000=220,000
(160,000)=60,000--> Gain of Realization
2.60,000/2=30,000--> Gain of Realization divided between the partners
3.160,000/2=80,000-->Cash to be distributed to partners
Problem 11
1.Cash 260,000
Loss of Realization 215,000
Non-Cash Assets 475,000
Sale of Non-Cash Assets
2. Aparece,Capital 43,000
Bantilles,Capital 86,000
Lerin,Capital 86,000
Loss of Realization 215,000
Distribution of loss realization to partners
3.Liabilities 270,000
Cash 270,000
Payment of Liabilities
4.Aparece,Capital 3,000
Bantilles,Capital 6,000
Lerin,Capital 6,000
Cash 15,000
Distribution of cash to partners
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 350,000
Less:Personal Liabilities (230,000) (240,000) (325,000)
Excess (Deficit) 20,000 60,000 25,000
---Romell Jimboy Belano
Problem# 1
ReplyDeleteCash Non cash assets Liabilities Arenas Dulay Laurente
Balances 50000 2350000 400000 900000 500000 600000
Sales &
distribution
of gain 2650000 (2350000) 100000 100000 100000
Balances 2700000 0 400000 1000000 600000 700000
Payment of
liabilities (400000) (400000)
Balances 2300000 0 0 1000000 600000 700000
Payment
to
partners (2300000) 0 0 (1000000) (600000) (700000)
Problem # 3
Loss on Realization 29500
Cash 582800
Inventories 612300
Cash 550900
Other Assets 472680
Gain on Realization 78220
Gualane, Capital 11800
Tormis, Capital 11800
Sailadin, Capital 5900
Loss on Realization 29500
Gain on Realization 78220
Gualane, Capital 31288
Tormis, Capital 31288
Sailadin, Capital 15644
Accounts Payable 131300
Cash 131300
Gualane, Capital 581088
Tormis, Capital 456288
Sailadin, Capital 384144
Cash 1421520
Problem # 8
1. 60000
2. Equally
3. 160000
Durante, Daniel Y. BSA- 1B
page 1 of 2
Problem 1
ReplyDelete1.Cash 2,650,000
Gain of Realization 300,000
Non-Cash Assets 2,350,000
Sale of Non-Cash Assets
2.Gain of Realization 300,000
Arenas,Capital 100,000
Dulay,Capital 100,000
Laurente,Capital 100,000
Distribution of gain realization to partners
3.Liabilities 400,000
Cash 400,000
Payment of Liabilities
4.Arenas,Capital 766,667
Dulay,Capital 766,666
Laurente,Capital 766,667
Cash 2,300,00
Distribution of cash to partners
Problem 3
1.Cash 582,800
Loss of Realization 29,500
Merchandise Inventory 612,300
Sale of Merchandise Inventory
-Cash 550,900
Gain of Realization 78,220
Other Assets 472,680
Sale of Other Assets
2.Gulane,Capital 11,800
Tormis,Capital 11,800
Sailadin,Capital 5,900
Loss of Realization 29,500
Distribution of loss realization to partners
-Gain of Realization 78,220
Gulane,Capital 31,228
Tormis,Capital 31,228
Sailadin,Capital 15,644
Distribution of gain realization to partners
3.Accouts Payable 131,250
Cash 131,250
Payment of Liabilities
4.Gulane,Capital 568,608
Tormis,Capital 568,608
Sailadin,Capital 284,304
Cash 1,421,520
Distribution of cash to partners
Problem 8
1.150,000+70,000=220,000
(160,000)=60,000--> Gain of Realization
2.60,000/2=30,000--> Gain of Realization divided between the partners
3.160,000/2=80,000-->Cash to be distributed to partners
Problem 11
ABL Partnership
Statement of Liquidation
December 1,2015
Cash Non-Cash Liabilities B, A, B, L,
Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40%
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of NCA and Dist.
of Loss 260,000 (475,000) (43,000) (86,000) (86,000)
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of
Liabilities (240,000) (240,000)
BalanceS 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset
by Bantilles (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional investment by b 6000
Balances 51,000, 77000, 0 , (26000)
Additional investment by L 25000
Balances 76000 , 77000, 0 , (1000)
Additional investment by a and b. A = 333 B = 667
Balances 77000 , a capital 77000
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 & 350,000
Less: Personal Liabilities 230,000 240,000 325,000
Excess (Deficit) 19667 54000 0
---Sir amo adi it tuod kay nak Problem 11 nag sayop ak gasi ko pareho la an iba na problem sorry la po sir...Romell Belano po ito Salamat ")
Problem# 11
ReplyDeleteCash Non cash assets Liabilities Aparece Bantilles Lerin
Balances 25000 475000 270000 120000 50000 60000
Sales &
distribution
of loss 260000 (475000) (43000) (86000) (86000)
Balances 285000 0 270000 77000 (36000) (26000)
Payment of
liabilities (270000) (270000)
Balances 15000 0 0 77000 (36000) (26000)
Investment (62000) 36000 26000
Balances 15000 0 0 15000 0 0
Payment
to
partners (15000) (15000)
Durante, Daniel Y. BSA- 1B
page 2 of 2
Problem 1 (page 1 of 2)
ReplyDeleteArenas, Dulay , Laurente
Statement of liquidation
June 30, 2015
P/L Ratio equally
Balances before liquidation Arenas 900 000 Dulay 500 000 Laurente 600 000
Sale of non cash asset 2 650 000(2 350 000)= 300 000 gain
Distribution of gain 100 000 100 000 100 000
Balances 1 000 000 600 000 700 000
-----------------------------------------------------------
-----------------------------------------------------------
Payment of liabilities 400 000(400 000)=0
Available cash of 2 300 000
Payment to partners 1 000 000 600 000 700 000
------------------------------------------------------
------------------------------------------------------
entries
June 30 Cash 2 650 000
Gain on realization 300 000
Non cash asset 2 350 000
Sold non cash assets.
Gain on realization 300 000
Arenas Capital 100 000
Dulay Capital 100 000
Laurente Capital 100 000
Distribution of gain.
Liabilities 400 000
Cash 400 000
Payment of liabilities
Arenas Capital 1 000 000
Dulay Capital 600 000
Laurente Capital 700 000
Cash 2 300 000
Payment to partners.
Problem 3
June 30 Cash 1 133 700
Loss on realization 48 720
Inventory 612 300
Other assets 472 680
Sold inventory and other assets.
Gulane, Capital 19 488
Tormis, Capital 19 488
Sailadin, Capital 9744
Loss on realization 48 720
Distribution of loss.
Liabilities 131 350
Cash 131 350
Payment of liabilities.
Gulane, Capital 542 112
Tormis, Capital 417 512
Sailadin, Capital 364 656
Cash 1 324 280
Payment of inital interest.
Gulane, Capital 38 896
Tormis, Capital 38 896
Sailadin, Capital 19 488
Cash 97240
Distribution of remaining cash.
-Nicudemus Carlou D. Capellan BSA 1B :)
Problem 8 (page 2 of 2)
ReplyDelete1.150,000+70,000=220,000
(160,000)=60,000--> Loss of Realization
2.60,000/2=30,000--> Loss of Realization divided between the partners
3.160,000/2=80,000-->Cash to be distributed to partners
Problem 11
ABL Partnership
Statement of Liquidation
December 1,2015
Cash Non-Cash Liabilities B, A, B, L,
Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40%
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of NCA and Dist.
of Loss 260,000 (475,000) (43,000) (86,000) (86,000)
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of
Liabilities (240,000) (240,000)
BalanceS 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset
by Bantilles (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional investment by b 6000
Balances 51,000, 77000, 0 , (26000)
Additional investment by L 25000
Balances 76000 , 77000, 0 , (1000)
Additional investment by a and b. A = 333 B = 667
Balances 77000 , a capital 77000
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 & 350,000
Less: Personal Liabilities 230,000 240,000 325,000
Excess (Deficit) 19667 54000 0
-Nicudemus Carlou D. Capellan BSA 1B :)
Problem #1
ReplyDeleteArenas, Dulay, and Laurente
Statement of Liquidation
June 30, 2015
Cash Non-Cash Assets Liabilities Arenas, Capital Dulay, Capital Laurente, Capital
50,000 2,350,000 400,000 900,000 500,000 600,000
2,650,000 (2,350,000) 100,000 100,000 100,000
-------------- ========== --------------- ------------- --------------- ---------------
2,700,000 400,000 1,000,000 600,000 700,000
(400,000) (400,000)
--------------- ======== --------------- --------------- ---------------
2,300,000 1,000,000 600,000 700,000
(2,300,000) (1,000,000) (600,000) (700,000)
======== ======== ======== ========
1. Sale of all non-cash assets
Cash 2,650,000
Non-cash Assets 2,350,000
Gain on realization 300,000
2. Distribution of gain on realization to the partners.
Gain on realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
3. Payment of Liabilities
Liabilities 400,000
Cash 400,000
4. Distribution of Cash to the partners
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
Problem #3
1.
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
Gain on Realization 48,720
2.
Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
3.
Accounts Payable 131,350
Cash 131,350
4.
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Problem #8
ReplyDelete1. What is the amount of loss or gain on realization?
150,000 + 70,000 + n = 160,000
220,000 + n = 160,000
n = 160,000 – 220,000
n = (60,000)
2. How much should loss or gain be divided between the partners?
Equally
3. How much cash should be distributed to each partners?
Romulo, Capital = 150,000 + (30,000)
= 120,000
=======
Elizabeth, Capital = 70,000 + (30,000)
= 40,000
=======
Problem #11
ABL Partnership
Statement of Liquidation
December 1, 2015
Cash Non-cash assets Liabilities Bantialles, Loan Aparece, capital Bantilles, Capital Lerin, Capital
25,000 475,000 240,000 30,000 120,000 50,000 60,000
260,000 (475,000) (43,000) (86,000) (86,000)
------------- ======= -------------- --------------------- ----------------------- ------------------------ -------------------
285,000 240,000 30,000 77,000 (36,000) (26,000)
(240,000) (240,000)
------------- ======= -------------------- ----------------------- ------------------------ ------------------
45,000 30,000 77,000 (36,000) (26,000)
61,000 36,000 25,000
------------- -------------------- ---------------------- ============ ------------------
106,000 30,000 77,000 1,000
(1,000)
------------- ------------------- ---------------------- =========
106,000 30,000 77,000
(106,000) (30,000) (77,000)
======= ========= ===========
Rayñel Ed L. Dacuno BSA-1A
ReplyDeleteProb #1
Cash Non-Cash Liabilities Arenas,Capital Dulay,Capital Laurente,Capital
Assests
50,000 2,350,000 400,000 900,000 500,000 600,000
2,650,000 (2,350,000) 100,000 100,000 100,000
---------------========-------------------------------------------------------------------------------------------
2,700,000 400,000 1,000,000 600,000 700,000
(400,000) (400,000)
---------------------------------=======---------------------------------------------------------------------------
2,300,000 1,000,000 600,000 700,000
(2,300,000) (1,000,000) (600,000) (700,000)
======== ==================================
1)Cash 2,650,000
Gain on Realization 300,000
Non-cash Assets 2,350,000
2)Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
3)Liabilities 400,000
Cash 400,000
4)Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
Prob #3
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
Gain on Realization 48,720
Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
Accounts Payable 131,350
Cash 131,350
Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Prob #8
1) Sonia, Capital : 150,000
Paras, Capital : 70,000
Less: Cash Bal. : 160,000
-----------------
Loss on Realiation : 60,000
========
2) Equally. It's because of their P/L Ratio
3) 120,000 to Soria; 40,000 to Paras.
Prob #11
Cash Non-Cash A/P Bantilles,Loan Aparece,Capital Bantilles,Capital Lerin,Capital
Assets
25,000 475,000 240,000 30,000 120,000 50,000 60,000
260,000 (475,000) (43,000) (86,000) (86,000)
-----------=======------------------------------------------------------------------------------------------------
285,000 240,000 30,000 77,000 (36,000) (26,000)
(240,000) (240,000)
----------------------=======-------------------------------------------------------------------------------------
45,000 30,000 77,000 (36,000) (26,000)
(30,000) 30,000
-------------------------------------=======----------------------------------------------------------------------
45,000 77,000 (6,000) (26,000)
(8,667) (17,333) 26,000
----------------------------------------------------------------------------------------------------------========
45,000 68,333 (23,333)
23,333 23,333
-----------------------------------------------------------------------------------=======-------------------------
68,333 68,333
(68,333) (68,333)
======= =======
Prob # 1
ReplyDeleteDate
2015
Jun 30 Cash 2650000
Non- cash asset 2350000
Gain on realization 300000
Sale of non-cash asset .
✓ Gain on realization 300000
Arenas, Capital 100000
Dulay,Capital 100000
Laurente, Capital 100000
Distribution of gain .
✓ Accounts Payable 400000
Cash 400000
Payment of liabilities .
✓ Arenas,Capital 1000000
Dulay , Capital 600000
Laurente, Capital 700000
Cash 2300000
Distribution of cash to partners .
Prob # 3
Date
2015
Jun 30 Cash 582800
Loss on realization 29500
Merchandise Inventory 612300
Sale of merchandise inventory .
✓ Gulane,Capital 11800
Tormis,Capital 11800
Sailadin, Capital 5900
Loss on realization 29500
Distribution of loss .
✓ Cash 550900
Gain on realization 78220
Other Asset 472680
Sale of other asset.
✓ Gain on realization 78220
Gulane,Capital 31288
TORMIS,Capital 31288
Sailadin,Capital 15644
Distribution of gain .
✓ Accounts Payable 131350
Cash 131350
Payment of liabilities.
Prob # 8
Soria Paras
Loss on realization (220000-160000)/2 30000 30000
Capital balance of the partners 150000 70000
Total P 120000 P 40000
1. P 60000is the amount of loss.
2. P 30000 is the loss be divided between the partners .
3. P 120000 And P 40000 – the amount distributed respectively to Soria and Paras .
Prob # 11
Cash 25000 + 260000 - 240000+6000 + 25000 + 667 = 76667
Non-cash 475000 - 475000 = 0
Acounts Payable 240000 - 240000 = 0
Loan, Bantiles 30000 - 30000 = 0
Aparece,Capital 120000 - 43000 - 333 = 76667
Bantiles, Capital 50000 - 86000 + 30000+6000-667+667 = 0
Lerin, Capital 60000 - 86000 + 26000-26000-1000 = 0
Prob # 1
ReplyDeleteDate
2015
Jun 30 Cash 2650000
Non- cash asset 2350000
Gain on realization 300000
Sale of non-cash asset .
/ Gain on realization 300000
Arenas, Capital 100000
Dulay,Capital 100000
Laurente, Capital 100000
Distribution of gain .
/ Accounts Payable 400000
Cash 400000
Payment of liabilities .
/ Arenas,Capital 1000000
Dulay , Capital 600000
Laurente, Capital 700000
Cash 2300000
Distribution of cash to partners .
Prob # 3
Date
2015
Jun 30 Cash 582800
Loss on realization 29500
Merchandise Inventory 612300
Sale of merchandise inventory .
/ Gulane,Capital 11800
Tormis,Capital 11800
Sailadin, Capital 5900
Loss on realization 29500
Distribution of loss .
/ Cash 550900
Gain on realization 78220
Other Asset 472680
Sale of other asset.
/ Gain on realization 78220
Gulane,Capital 31288
TORMIS,Capital 31288
Sailadin,Capital 15644
Distribution of gain .
/ Accounts Payable 131350
Cash 131350
Payment of liabilities.
Prob # 8
Soria Paras
Loss on realization (220000-160000)/2 30000 30000
Capital balance of the partners 150000 70000
Total P 120000 P 40000
1. P 60000is the amount of loss.
2. P 30000 is the loss be divided between the partners .
3. P 120000 And P 40000 – the amount distributed respectively to Soria and Paras .
Prob # 11
Cash 25000 + 260000 - 240000+6000 + 25000 + 667 = 76667
Non-cash 475000 - 475000 = 0
Acounts Payable 240000 - 240000 = 0
Loan, Bantiles 30000 - 30000 = 0
Aparece,Capital 120000 - 43000 - 333 = 76667
Bantiles, Capital 50000 - 86000 + 30000+6000-667+667 = 0
Lerin, Capital 60000 - 86000 + 26000-26000-1000 = 0
Prob # 1
ReplyDeleteDate
2015
Jun 30 Cash 2650000
Non- cash asset 2350000
Gain on realization 300000
Sale of non-cash asset .
/ Gain on realization 300000
Arenas, Capital 100000
Dulay,Capital 100000
Laurente, Capital 100000
Distribution of gain .
/ Accounts Payable 400000
Cash 400000
Payment of liabilities .
/ Arenas,Capital 1000000
Dulay , Capital 600000
Laurente, Capital 700000
Cash 2300000
Distribution of cash to partners .
Prob # 3
Date
2015
Jun 30 Cash 582800
Loss on realization 29500
Merchandise Inventory 612300
Sale of merchandise inventory .
/ Gulane,Capital 11800
Tormis,Capital 11800
Sailadin, Capital 5900
Loss on realization 29500
Distribution of loss .
/ Cash 550900
Gain on realization 78220
Other Asset 472680
Sale of other asset.
/ Gain on realization 78220
Gulane,Capital 31288
TORMIS,Capital 31288
Sailadin,Capital 15644
Distribution of gain .
/ Accounts Payable 131350
Cash 131350
Payment of liabilities.
Prob # 8
Soria Paras
Loss on realization (220000-160000)/2 30000 30000
Capital balance of the partners 150000 70000
Total P 120000 P 40000
1. P 60000is the amount of loss.
2. P 30000 is the loss be divided between the partners .
3. P 120000 And P 40000 – the amount distributed respectively to Soria and Paras .
Prob # 11
Cash 25000 + 260000 - 240000+6000 + 25000 + 667 = 76667
Non-cash 475000 - 475000 = 0
Acounts Payable 240000 - 240000 = 0
Loan, Bantiles 30000 - 30000 = 0
Aparece,Capital 120000 - 43000 - 333 = 76667
Bantiles, Capital 50000 - 86000 + 30000+6000-667+667 = 0
Lerin, Capital 60000 - 86000 + 26000-26000-1000 = 0
Problem #1
ReplyDeleteArenas, Dulay and Laurente
Statement of Liquidation
June 30, 2015
Cash Non-cash Assets Liabilities Arenas Dulay Laurente
P/L Ratio 45% 25% . 30%
=====================
Balances before
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sales of non-cash
assets &
distribution
of gains 2,650,000 (2,350,000) 135,000 75,000 90,000
---------------==========---------------------------------------------------------------
Balances 2,700,000 400,000 1,035,000 575,000 690,000
Payments of
Liablities to
outsiders (400,000) (400,000)
----------------- ========-----------------------------------------------Balances 2,300,000 1,035,000 575,000 690,000
Payments to
partners (2,300,000) (1,035,000) (575,000) (690,000)
========= ===========================
June 30 Cash 2,650,000
Gain on realization 300,000
Non-cash assets 2,350,000
Sale of non-cash assets
/ Gain on realization 300,000
Arenas, Capital 135,000
Dulay, Capital 75,000
Laurente, Captal 90,000
Distribution on gain realization
/ Liabilities 400,000
Cash 400,000
Payment of liabilities
/ Arenas, Capital 1,035,000
Dulay, Capital 575,000
Laurente, Captal 690,000
Cash 2,300,000
Distribution of cash to partners
Problem #3
June 30 Cash 1,133,700
Gain on realization 48,720
Non-cash assets 1,084,980
Sale of non-cash asset
/ Gain on realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
Distribution on gain realization
/ Accounts payable 131,350
Cash 131,350
Payment of liabilities
/ Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Distribution of cash to partners.
Problem #8
1.) Soria,capital 150000
Paras,capital 70000
------------
Total 220,000
Cash bal. (160,000)
------------
60000
=======
2)Based on their P/L ratio
3)150000
(30000)
------------
120000
======== - cash to b distributed to Soria.
70000
(30000)
----------
40000
======= -cash to be distributed to Paras
BASILAN, ANGIELYN I. BSA-1B Page 1 of 2
Problem #11
ReplyDeleteABL Partnership
Statement of Liquidation
December 1, 2015
Cash Non-cash Liabilities Bantiles Aparece Bantiles Lerin
Asset loan Capital Capital Capital
P/L Ratio 20% 40% 40%
=====================
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sales of
non-cash
assets &
distribution
of losses 260,000 (475,000) (43,000) (86,000) (86,000)
-------------========-----------------------------------------------------------------------
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payments
of Liablities
to outsider (240,000) (240,000)
------------- =========-------------------------------------------------------Balances 45,000 30,000 77.000 (36,000) (26,000)
Rights of offset
by Bantiles (30,000) 30,000
------------- ======----------------------------------------- Balances 45,000 70,000 (6,000) (26,000)
Additional
loss to
Aparece (32,000) 6,000 26,000
------------ --------------=============
Balances 45,000 45,000
Payments
to partners (45,000) (45,000)
======= =======
Aparece Bantiles Lerin
Personal Assets 250,000 300,000 350,000
Less; Personal Liabilities 230,000 240,000 325,000
-------------------------------------------------------------------------------
Excess 20,000 60,000 25,000
=========================================
ANGIELYN I. BASILAN BSA 1-B PAGE 2 OF 2
Problem #1
ReplyDeleteArenas, Dulay and Laurente
Statement of Liquidation
June 30, 2015
Cash Non-cash Assets Liabilities Arenas Dulay Laurente
P/L Ratio 45% 25% . 30%
=====================
Balances before
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sales of non-cash
assets &
distribution
of gains 2,650,000 (2,350,000) 135,000 75,000 90,000
---------------==========---------------------------------------------------------------
Balances 2,700,000 400,000 1,035,000 575,000 690,000
Payments of
Liablities to
outsiders (400,000) (400,000)
----------------- ========-----------------------------------------------Balances 2,300,000 1,035,000 575,000 690,000
Payments to
partners (2,300,000) (1,035,000) (575,000) (690,000)
========= ===========================
June 30 Cash 2,650,000
Gain on realization 300,000
Non-cash assets 2,350,000
Sale of non-cash assets
/ Gain on realization 300,000
Arenas, Capital 135,000
Dulay, Capital 75,000
Laurente, Captal 90,000
Distribution on gain realization
/ Liabilities 400,000
Cash 400,000
Payment of liabilities
/ Arenas, Capital 1,035,000
Dulay, Capital 575,000
Laurente, Captal 690,000
Cash 2,300,000
Distribution of cash to partners
Problem #3
June 30 Cash 1,133,700
Gain on realization 48,720
Non-cash assets 1,084,980
Sale of non-cash asset
/ Gain on realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
Distribution on gain realization
/ Accounts payable 131,350
Cash 131,350
Payment of liabilities
/ Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Distribution of cash to partners
Problem #8
1.) Soria,capital 150000
Paras,capital 70000
----------
Total 220,000
Cash bal. (160,000)
----------
60000
=======
2)Based on their P/L ratio
3)150000
(30000)
------------
120000
======== - cash to b distributed to Soria.
70000
(30000)
----------
40000
======= -cash to be distributed to Paras
PEACHY BANDILLA BSA 1-A PAGE 1 OF 2
Problem #1
ReplyDeleteCash Non-cash Liabilities Arenas, Dulay, Laurente,
Assets Capital Capital Capital
Balances Before
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of non-cash
asset & dist. of
gain. 2,650,000 (2,350,000) 100,000 100,000 100,000
_______________________________________________________
Balances 2,700,000 - 400,000 1,000,000 600,000 700,000
Payments of
Liabilities (400,000) (400,000)
_________________________________________________________
Balances 2,300,000 - 1,000,000 600,000 700,000
Ditrinution of
Cash to
partners (2,300,000) (1,000,000) (600,000) (700,000)
========= ========================
Entries :
Cash 2,650,000
Non-cash assets 2,350,000
Gain on Realization 300,000
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
Liabilities 400,000
Cash 400,000
Arenas, Capital 1,000,000
Dulay Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
Problem #11
ReplyDeleteABL Partnership
Statement of Liquidation
December 1, 2015
Cash Non-cash Liabilities Bantiles Aparece Bantiles Lerin
Asset loan Capital Capital Capital
P/L Ratio 20% 40% 40%
=====================
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sales of
non-cash
assets &
distribution
of losses 260,000 (475,000) (43,000) (86,000) (86,000)
-------------========-----------------------------------------------------------------------
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payments
of Liablities
to outsider (240,000) (240,000)
------------- =========-------------------------------------------------------Balances 45,000 30,000 77,000 (36,000) (26,000)
Rights of offset
by Bantiles (30,000) 30,000
------------- ======-------------------------------------------- Balances 45,000 70,000 (6,000) (26,000)
Additional
loss to
Aparece (32,000) 6,000 26,000
------------ --------------=================
Balances 45,000 45,000
Payments
to partners (45,000) (45,000)
======= =======
Aparece Bantiles Lerin
Personal Assets 250,000 300,000 350,000
Less; Personal Liabilities 230,000 240,000 325,000
------------------------------------------------------------------------Excess 20,000 60,000 25,000
=========================================
PEACHY BANDILLA BSA 1-A PAGE 2 OF 2
Problem #3
ReplyDeleteCash 582,800
Loss on Realization 29,500
Non-cash assets(MI) 612,300
Gulane, Capital 11,800
Tormis, Capital 11,800
Sailadin, Capital 5,900
Loss on Realization 29,500
Cash 550,900
Non-cah assets(OA) 472,680
Gain on Realization 78,220
Gain on Realization 78,220
Gulane, Capital 31,228
Tormis, Capital 31,228
Sailadin, Capital 15,644
Accounts Payable 131,500
Cash 131,500
Gulane, Capital 581,088
Tormis Capital 456,288
Sailadin Capital 384,144
Cash 1,421,520
Problem #8
1. Loss on Realization
150,000+70,000=220,000-(160,000)=60,000
2.Loss on Realization divided between the partners
60,000/2=30,000
3.Cash to be distributed to partners
160,000/2=80,000
Problem #11
ABL Partnership
Statement of Liquidation
December 1,2015
Cash Non-Cash Liabilities B, A, B, L,
Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40%
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of NCA and Dist.
of Loss 260,000 (475,000) (43,000) (86,000) (86,000)
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of
Liabilities (240,000) (240,000)
BalanceS 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset
by Bantilles (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional investment by b 6000
Balances 51,000, 77000, 0 , (26000)
Additional investment by L 25000
Balances 76000 , 77000, 0 , (1000)
Additional investment by a and b. A = 333 B = 667
Balances 77000 , a capital 77000
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 & 350,000
Less: Personal
Liabilities 230,000 240,000 325,000
Excess (Deficit) 19667 54000 0
Part2/2
ReplyDeleteAllyzon Padaon BSA1B
Prpb. #8
1.) (150000+70000)50%= 440000
2.) Using the profit or Loss Ratio.
3.) 160000
Prob. #11
ABC Partnership
Statement of Liquidation
December 1, 2015
Cash Non-cash Liabilities Aparece, Bantilles, Lerin,
Assets Capital Capital Capital
Bal. before liquidation 25000 475000 270000 120000 50000 60000
Sale of all non-cash 260000 (475000) ( 43000) ( 86000) (86000)
Assets & dist. of loss in
Realization
Balance 285000 270000 (77000) ( 36000) ( 26000)
Payment of Liabilities (270000) (270000)
Balance 15000 77000 (36000) (26000)
Additional Investment 61000 36000 25000
By Bantilles & Lerin
Balance 76000 77000 (1000)
Additional Losses to (1000) 1000
Aparec
Payment to Partner 76000 76000
Part 1/2
ReplyDeleteAllyzon O. Padaon BSA1B
Prob. #1
1.) June 30 Cash 2650000
Gains on realization 300000
Non-cash Assets 2350000
To record the sale of all non-cash assets.
2.) June 30 Gains on realization 300000
Arenas, Capital 100000
Dulay, Capital 100000
Laurente, Capital 100000
To record the dist. of gain on realization
To the partners.
3.) June 30 Liabilities 400000
Cash 400000
To record the payment of liabilities.
4.) June 30 Arenas, Capital 1000000
Dulay, Capital 600000
Laurente, Capital 700000
Cash 2300000
To record the distribution of cash to the
Partners.
Arenas, Dulay, and Laurente
Statement of Liquidation
June 30,2015
Cash Non-cash Liabilities Arenas, Dulay, Laurente,
Assets Capital Capital Capital
Bal. before liquidation 50000 2350000 400000 900000 500000 600000
Sale of all non-cash 2650000 (2350000) 100000 100000 100000
Assets & dist. of gain
on realization
Balance 2700000 400000 1000000 600000 700000
Payment of Liabilities (400000) (400000)
Balance 2300000 1000000 600000 700000
Payment to partners (2300000) (1000000) (600000) (700000)
Prob. #3
June 30 Cash 582800
Loss in realization 29500
Merchandise Inventory 612300
To record the sale of MI.
June 30 Gulane, Capital 11800
Tormis, Capital 11800
Sailadin, Capital 5900
Loss in Realization 29500
To record the distribution in the loss of
realization.
June 30 Cash 550900
Gain in Realization 78220
Other Assets 472680
To record the sale of other Assets.
June 30 Gain in Realization 78220
Gulane, Capital 31288
Tormis, Capital 31288
Sailadin, Capital 15644
To record the distribution in the gain of
realization.
June 30 Accounts Payable 131350
Cash 131350
To record the payment of liabilities.
June 30 Gulane, Capital 384144
Tormis, Capital 456288
Sailadin,Capital 581088
Cash 1421520
To record the distribution of cash.
Locop, Jun Joshua O.
ReplyDeleteProblem 1
Arenas Dulay Laurente
Statement of Liquidation
June 30, 2015
Cash Non-cash Liabilities Arenas, Capital Dulay, Capital Laurente, Capital
50 000 2 350 000 400 000 900 000 500 000 600 000
2 650 000 (2 350 000) 100 000 100 000 100 000
------------------===========----------------------------------------------------------------------------------
2 700 000 400 000 1 000 000 600 000 700 000
(400 000) (400 000)
----------- ---------=========-------------------------------------------------------------------------------
2 300 000 1 000 000 600 000 700 000
(2 300 000) (1 000 000) (600 000) (700 000)
============================================================
Cash 2 650 000
Arenas, Capital 100 000
Dulay, Capital 100 000
Laurente, Capital 100 000
Non-cash Assets 2 350 000
Sale of non-cash asset
and distribution of gain
Liabilities 400 000
Cash 400 000
Payment of liabilities
Arenas, Capital 1 000 000
Dulay, Capital 600 000
Laurente, Capital 700 000
Cash 2 300 000
Distribution of cash
Locop, Jun Joshua O.
ReplyDeleteProblem 3
Cash 1 133 700
Merchandise Inventory 612 300
Other assets 472 680
Gulane, Capital 19 488
Tormis, Capital 19 488
Sailadin, Capital 9 744
Sale of non-cash assets
and distribution of gain
Liabilities 131 350
Cash 131 350
Payment of Liabilities
Gulane, Capital 581 088
Tormis, Capital 456 288
Sailadin, Capital 384 144
Cash 1 421 520
Distribution of Cash
Locop, Jun Joshua O.
ReplyDeleteProblem 8
1. 160 000- 220 000= (60 000) loss on realization
2. 60 000/2= 30 000 equally
3. cash to be distributed
150 000-30 000=120 000
70 000- 30 000=40 000
Arenas, Dulay and Laurante
ReplyDeleteStatement of Liquidation
June 30, 2015
Cash Non- Cash Liabilities Arenas, Capital Dulay, Capital Laurante, Capital
1 /3 1/3 1/3
50,000 2,350,000 400,000 900,000 500,000 600,000
2,650,000 (2,350,000) 100,000 100,000 100,000
-----------------========-----------------------------------------------------------------------------------------
2,700,000 400,000 1,000,000 600,000 700,000
(400,000) (400,000)
------------------------------------======--------------------------------------------------------------------
2,300,000 1,000,000 600,000 700,000
(2,300,000) (1,000,000) (600,000) (700,000)
======== ======== ======= =======
Mark Jay L. Turla BSA-1A
1) Cash 2,650,000
ReplyDeleteArenas, Capital 100,000
Dulay, Capital 100,000
Laurante, Capital 100,000
Non- Cash Assets 2,3500,000
2) Liabilities 400,000
Cash 400,000
3) Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurante, Capital 700,000
Cash 2,300,000
Problem #3
1) Cash 1,133,700
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
Non- Cash Assets 1,084,980
2) Liabilities 131,350
Cash 131,350
3) Gulane, Capital 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
Problem #8
1) Loss = (60,000)
2) Equally
3) Soria 120,000
======
Paras 40,000
=====
Mark Jay L. Turla BSA-1A
Locop, Jun Joshua O.
ReplyDeleteProblem 11
Aparece Bantilles Lerin
Statement of Liquidation
December 10, 2015
Cash Non-cash A/P L/P-Bantilles Aparece, Cap Bantilles, Cap Lerin, Cap
20% 40% 40%
25 000 475 000 240 000 30 000 120 000 50 000 60 000
260 000 (475 000) (43 000) (86 000) (86 000)
---------------========-------------------------------------------------------------------------------------------
285 000 240 000 30 000 77 000 (36 000) (26 000)
(240 000) (240 000)
-----------------------=========-------------------------------------------------------------------------------
45 000 30 000 77 000 (36 000) (26 000)
(30 000) (30 000)
---------------------------------------========-------------------------------------------------------------------
45 000 77 000 (6 000) (26 000)
31 000 6 000 25 000
---------------------------------------------------------------------------------=========-----------------------
76 000 77 000 (1 000)
(1 000) 1 000
---------------------------------------------------------------------------------------------------------========-
76 000 76 000
(76 000) (76 000)
=============================================================
ABL Partneraship
ReplyDeleteStatement of Liquidation
December 31, 2015
Cash Non-Cash Liabilities Bantilles,loan Aparace, Cap. Bantilles, Cap. Lerin, Cap.
20% 40% 40%
25,000 475,000 240,000 30,000 120,000 50,000 60,000
260,000 (475,000) (43,000) (86,000) (86,000)
------------=======----------------------------------------------------------------------------------------------
285,000 240,000 30,000 77,000 (36,000) (26,000)
(240,000) (240,000)
--------------------------=======--------------------------------------------------------------------------------
45,000 30,000 77,000 (36,000) (26,000)
(30,000) 30,000
-----------------------------------------======------------------------------------------------------------------
45,000 77,000 (6,000) (26,000)
31,000 (1,000) 6,000 26,000
---------------------------------------------------------------------------------------=====----------======
76,000 76,000
(76,000) (76,000)
====== ======
Mark Jay L. Turla BSA-1A
Maglinte, Carlo M. Bsa 1a
ReplyDeleteProblem#1
Arenas, Dulay, and Laurente
Statement of Liquidation
Dec. 31, 201
Cash Non-Cash Assets Liabilities Arenas cap. Dulay cap. Laurente cap.
P/L ratio 1/3 1/3 1/3
Balances
before 50k 2,350,000 400k 900k 500k 600k
liquidation
Sale of NC
& distribution 2,650,000 (2,350,000) 100k 100k 100k
of gain
Balances: 2,700,000 400k 1,000,000 600k 700k
Payment of
Liabilities (400k) (400k)
Balances: 2,300,000 1,000,000 600k 700k
Distribution:(2,300,000) (1,000,000) (600k) (700k)
Entries:
Sale of NCA.
1.) Cash 2,650,000
NCA 2,650,000
A, cap 100k
D, cap 100k
L, cap 100k
To record gain of partners.
Payment of Liabilities
2) Liabilities 400k
Cash 400k
To record payments of liabilities.
Distribution of cash
3) A. cap 1,000,000
D.cap 600k
L. cap 700k
Cash 2,300,000
To record distribution of cash.
Problem#3
1) Sale of Non-Cash Assets:
a) Cash 582,800
G. cap 11,800
T.cap 11,800
S. cap 15,900
Merchandise Inventory 612,300
To record loss.
b) Cash 550,900
Other assets 472,680
G. cap 31,288
T.cap 31,288
S. cap 15,664
To record gain.
2) Payment of Liab.
Liabilities 131,350
Cash 131,350
To record payments of liabilities.
3) Distribution of cash
G. cap 581,088
T. cap 456,288
S. cap 384,144
Cash 421,520
To record distribution of cash.
Problem#8
1) Loss on realization: (60,000)
2) Soria Cap: [(60k)*50%] = (30,000)
Paras cap: [(60k)*50%] = (30,000)
3) Soria Cap: 150k-30k = 120k
Paras cap: 70k-30k = 40k
Problem#11
ABL Partnership
Statement of Liquidation
Dec. 31, 2015
Cash Non-Cash Assets Liabilities B. Loans A. cap. B. cap. L. cap.
P/L ratio 20% 40% 40%
Balances
before 25K 475K 240K 30k 120K 50K 60K
liquidation
Sale of NC
& distribution 260k (475k) (43k) (86k) ( 86k)
of loss
Balances: 285k 240K 30k 77K (36K) (26k)
Payment of
Liabilities 240k) (240k)
Balances: 45k 30k 77k (36K) (26k)
Right of offseT (30k) 30k
Bal. 45K 77k (6K) (26k)
Add:Investment 25k 25k
Bal. 65k 77k (6k) (1k)
Add:Investment 6k 6k
Bal. 76k 77k (1k)
Absorption: (1k) 1k
Bal. 76k 76k
Payment to partner: (76k) (76k)
Merilyn C. Hermosilla BSA 1A
ReplyDeletePROBLEM#1
Arenas, Dulay and Laurente
Statement of Liquidation
December 31, 2015
Cash NCA Liabilities A, Cap. D, Cap. L, Cap.
P/L Ratio 1/3 1/3 1/3
Bal, before
Liquidation 50k 2,350k 400k 900k 500k 600k
SalesofNCA&
dist.of Gain2,650k(2,350k) 100k 100k 100k
Balances 2,700k 400k 1m 600k 700k
Payment
of liab. (400k) (400k)
Bal. 2,300k 1m 600k 700k
Payments
toPartners(2,300k) (1m) (600k) ( 700k)
1. Sale of all Non-Cash Assets
Cash 2,650k
Non-cash assets 2,350k
A, Capital 100k
D, Capital 100k
L, Capital 100k
To record the gain of the partners.
2. Liabilities 400k
Cash 400k
To record payments to liabilities.
3.A, Capital 1m
D, Capital 600k
L, Capital 700k
Cash 2,300k
To record distribution of cash.
PROBLEM#3
1. Sale of Non-Cash Assets
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
G, Capital 19,488
T, Capital 19,488
S, Capital 9,744
To record cash and distribution of gain on realization.
2. Payments of liabilities
Liabilities 131,350
Cash 131,350
To pay the liabilities.
3. Distribution of cash to the partners.
G, Capital 581,088
T, Capital 456,288
S, Capital 384,144
Cash 1,421,520
To distribute cash to the partners.
PROBLEM#8
1.) Cash balance: 160k
Less: S,Cap. 150k
P,Cap. 70k
Loss on realization (60k)
2.) S, Capital :(60k)x50%=(30k)
P, Capital : (60k)x50%=(30k)
3.) S.Cap. P.Cap.
Bal. before
Liquidation 150k 70k
Loss on
Realization (30k) (30k)
Balance 120k 40k
PROBLEM#11
Cash NCA Liabilities B.Loan A.Cap. B.Cap. L.Cap.
P/L ratio 20% 40% 40%
Bal. before
Liquidation 25k 475k 240k 30k 120k 50k 60k
Sale of NCA
& dist. Of loss260k (475k) (43k) (86k) (86k)
Bal. 285k 240k 30k 77k (36k) (26k)
Payment of
Liabilities (240k) (240k)______________________________
Bal. 45k 30k 77k (36k) (26k)
Right of offset (30k) 30k
Bal. 45,000 77,000 (6,000) (26,000)
Add’l invest. 31,000 6,000 25,000
Bal. 76,000 77,000 (1,000)
Absorption (1,000) 1,000
Bal. 76,000 76,000
Payments to
Partners (76,000) (76,000)
RAMOS,A. BSA 1-A
ReplyDeleteProb. #1 A,D&L
SoL
6/30/15
Cash NCA Liab A D L
Bal. b4 liq. 50k 2,350k 400k 900k 500k 600k
Sale of NCA& 2,650k (2,350k) 100k 100k 100k
dist.of losses - - - - -
Bal. 2,700k - 400k 1M 600k 700k
Payment of liab(400k) (400k) - - -
Bal 2,300k 1M 600k 700k
Payment to partners (2,300k) (1M) (600k) (700k)
1.) Cash 2,650,000
NCA 2,350k
A,Cap. 100k
D,Cap 100k
L,Cap. 100k
To record the sale
of NCA and distribution of profits.
2) GoR 300k
A,Cap 100k
D,Cap 100k
L,Cap 100k
To record the distribution
of gains.
3) Liabs. 400k 4) A,Cap 1M
Cash 400k D,Cap 600k
To record the L,Cap 700k
settlement of liabilities. Cash 2300k
To record payments
to partners.
Prob.#3
1) Cash 1,133,700 2) Gain on realization 48,720
M.Invty 612 300 G,Cap 19 488
Other assets 472,680 T,Cap 19 488
G,Cap 19 488 S,Cap 9 744
T,Cap 19 488 To record the
S,Cap 9 744 distribution of gains.
To record
the sale of NCA and distribution of profits.
3) A/P 131,350 4) G,Cap 581,088
Cash 131 350 T,Cap 456 288
To record the S,Cap 384 144
Settlement of liab. Cash 1 421 520
To record payments To partners.
Prob.#8
1)60k
2)30k;30k
3)120k;40k
Prob.#11
A,B&L
SoL
12/10/15
CashA/R Invty. P&E. A/P L/P-B. A B L 2 25k 75k 100k 300k 240k 30k 120k 50k 60k
260k (75k) (100k) (300k) (43k) (86k) (86k)
Bal. 285k 240k 30k77k (36k) (26k)
(240k) (240k)
Bal. 45k 30k 77k (36k) (26k)
RoO By B. - (30k) - 30k -
Bal. 45k 77k (6k) (26k)
Payments to (45k) (77k) 6k 26k
partners
A,B&L
Personal Assets 250k 300k 350k
Personal Liab. 230k 240k 325k
Excess 20k 60k 25k
Amount rec.fr.Liq.77k (6k) (26k)
Loss to creditors 0 0 0
JACQUELINE P. TADO BSA-1A
ReplyDeleteProlem # 1
Arenas, Dulay and Laurente
Statement of Liquidation
December 31, 2015
Cash NCA Liab. A., Cap. D., Cap. L., Cap.
P/L Ratio 1/3 1/3 1/3
Bal.
b4
Liquidation 50K 2,350,000 400K 900K 500K 600K
Sale of NCA &
Distri. of
Profit 2,650,000 (2,350,000) 100K 100K 100K
Bal. 2,700,000 400K 1,000,000 600K 700K
Payment of
Liab. (400K) (400K)
Bal. 2,300,000 1,000,000 600K 700K
Payment to
Partner (2,300,000) (1,000,000) (600K) (700K)
1.) Sale of all NCA
Cash 2,650,000
NCA 2,350,000
A., Cap. 100K
D., Cap. 100K
L., Cap. 100K
To record cash and distribution of gain on realization.
2.) Payment of the Liab.
Liab. 400K
Cash 400K
To pay the liabilities.
3.) Distri. of Cash to the Partners
A., Cap. 1,000,000
D., Cap. 600K
L., Cap. 700K
Cash 2,300,000
Distribution of Cash to Partners.
Problem # 3
1.) Sale of NCA
Cash 1,133,700
M. Inventory 612,300
Other Assets 472,680
G., Cap. 19,488
T., Cap. 19,488
S., Cap. 9,744
To record cash and distribution of gain on realization.
2.) Payment of the Liab.
Liab. 131,350
Cash 131,350
To pay the liabilities.
3.) Distri. of Cash to the Partners
G., Cap. 581,088
T., Cap. 456,288
S., Cap. 384,144
Cash 1,421,520
To distribute cash to partners.
Problem # 8
1.) Loss on Realization 60K
2.) Equally
3.) Soria, Cap. 120K
Paras, Cap. 40K
Problem # 11
Aparece, Bantilles and Lerin
Statement of Liquidation
December 31, 2015
Cash A/R Inventories P.&E. A/P B., Loan A., Cap. B., Cap. L., Cap. P/L Ratio 20% 40% 40%
Bal.
b4
Liquidation 25k 75K 100K 300K 240K 30K 120K 50K 60K
Sale of NCA &
Distri.
of Loss 260K (75K) (100K) (300K) (43K) (86K) (86K)
Bal. 285K - - 240K 30K 77K (36K) (26K)
Payment of
Liab. (240K) (240K)
Bal. 45K 30K 77K (36K) (26K)
Right of Offset - (30K) - 30K -
Bal. 45K - 77K (6K) (26K)
Add.
Investment 31K - 6K 25K
Bal. 76K 77K - (1K)
Absorption - (1K) 1K
Bal. 76K 76K -
Payment to
Partners (76K) (76K)
ARLITO SOLANO PROBLEM #1 Arenas, Dulay and Laurente Partnership
ReplyDeleteStatement of Liquidation
June 30,2015
CASH NCA LIAB. Arenas,Capital Dulay,Capital Laurente,Capita P/L% 1/3 1/3 1/3 Bal.befor
reali: P50,k 2,350 P400k 900k 500k 600k
SalesofNCA
&gainreal:P2,650k(2,350k) 100k 100k 100k
BAL: P2,700k P400k 1,000k 600k 700k
Payments
Of Liab: (400k) (400k) - - -
BAL: P2,300k 1,000k 600k 700k
Dist.of
cash: (P2,300k) (1,000k) (600k) (700k)
1.-2)CASH 2,650k 3.) Liabilities 400k
Arenas,Capital 100k Cash 400k
Dulay,Cap 100k To record the
Laurente,Capital 100k settlement of liabilities.
Non-cash assets 2,350lk
To record the
Selling of non-cash assets.
4.)Arenas,Capital 1,000k
Dulay,Capital 600k
Laurente,capital 700k
Cash 2,300k
To record the
Payments to the partners.
PROBLEMS #3
1.)Sales of Non- Cash ASSETS
Cash 1,133,700
Inventory 612,300
Other Asset 472,680
Gulane, Cap 19,488
Tormis,Cap 19,488
Sailadin,Cap 9,744
To record the
Selling of non-cash assets
And dist. Of gain on realization.
2.)Payments of liabilities
A/ P 131,350
Cash 131,350
To record the
settlements of payable.
3.)Distribution of cash to partners
Gulane,Capital 581,088
Tormis,Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
To record the
Payments to the partners
PROBLEM#8
1.)Loss on realization: P60,000
2.)Gain should divided between partners are equally.
3.) Soria,Capital 120k
Paras,Capital 40k
PROBLEM#11 ABL Partnership
Statement of Liquidation
Dec.10,2015
CASH A/R Invty. P&E A/P L/P-B Aparece,Cap. Bantilles,Cap. Lerin,Cap.
P/L% 20% 40% 40%
Bal.
b4liq:P25k 75k 100k 300k 240k 30k P120,000 50,000 60,000
Sale of
NCA&
Dist.
loss: 260k(75k)(100k)(300k) (43k) (86k) (86k)
BAL:285k 240k 30k 77,000 (36,000) (26,000)
Payment
Of
liab: (240k) (240k) - - - -
BAL:45,k 30k 77,000 (36,000) (26,000)
Right of
Offset : - - - - - (30k) - 30k -
BAL:45k 77,000 (6,000) (26,000)
Payment
To
part
ners:(45k) (77k) 6k 26k
boreres, yvette r. bsa 1a
ReplyDeletePROBLEM#1
Arenas, Dulay and Laurente
Statement of Liquidation
December 31, 2015
Cash NCA Liab. A, Cap. D, Cap. L, Cap.
P/L Ratio 1/3 1/3 1/3
Bal, before
Liquidation 50k 2,350k 400k 900k 500k 600k
SalesofNCA&
dist.of Gain2,650k(2,350k) 100k 100k 100k
Balances 2,700k 400k 1m 600k 700k
Payment
of liab. (400k) (400k)
Bal. 2,300k 1m 600k 700k
Payments
toPartners(2,300k) (1m) (600k) ( 700k)
1. Sale of all Non-Cash Assets
Cash 2,650k
Non-cash assets 2,350k
A, Cap. 100k
D, Cap. 100k
L, Cap. 100k
To record the gain of the partners.
2 Liabilities 400k
Cash 400k
To record payments to liabilities.
3.A, Cap. 1m
D, Cap. 600k
L, Cap. 700k
Cash 2,300k
To record distribution of cash.
PROB.#3
1. Sale of Non-Cash Assets
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
G, Cap. 19,488
T, Cap. 19,488
S, Cap. 9,744
To record cash and distribution of gain on realization.
2. Payments of liabilities
Liabilities 131,350
Cash 131,350
To pay the liabilities.
3. Distribution of cash to the partners.
G, Capital 581,088
T, Capital 456,288
S, Capital 384,144
Cash 1,421,520
To distribute cash to the partners.
PROB.#8
1.) Cash bal. : 160k
Less: S,Cap. 150k
P,Cap. 70k
Loss on realization (60k)
2.) S, Cap. :(60k)x50%=(30k)
P, Cap. : (60k)x50%=(30k)
3.) S.Cap. P.Cap.
Bal. before
Liquidation 150k 70k
Loss on
Realization (30k) (30k)
Bal. 120k 40k
PROB.#11
Cash NCA Liab. B.Loan A.Cap. B.Cap. L.Cap.
P/L ratio 20% 40% 40%
Bal. before
Liquidation 25k 475k 240k 30k 120k 50k 60k
Sale of NCA
& dist. Of loss260k (475k) (43k) (86k) (86k)
Bal. 285k 240k 30k 77k (36k) (26k)
Payment of
Liabilities (240k) (240k)
Bal. 45k 30k 77k (36k) (26k)
Right of offset (30k) 30k
Bal. 45k 77k (6k) (26k)
Add’l invest. 31k 6k 25k
Bal. 76k 77k (1k)
Absorption (1k) 1k
Bal. 76k 76k
Payments to
Partners (76k) (76k)
Problem 1
ReplyDelete1.Cash 2,650,000
Gain of Realization 300,000
Non-Cash Assets 2,350,000
Sale of Non-Cash Assets
2.Gain of Realization 300,000
Arenas,Capital 100,000
Dulay,Capital 100,000
Laurente,Capital 100,000
Distribution of gain realization to partners
3.Liabilities 400,000
Cash 400,000
Payment of Liabilities
4.Arenas,Capital 766,667
Dulay,Capital 766,666
Laurente,Capital 766,667
Cash 2,300,00
Distribution of cash to partners
Problem 3
1.Cash 582,800
Loss of Realization 29,500
Merchandise Inventory 612,300
Sale of Merchandise Inventory
-Cash 550,900
Gain of Realization 78,220
Other Assets 472,680
Sale of Other Assets
2.Gulane,Capital 11,800
Tormis,Capital 11,800
Sailadin,Capital 5,900
Loss of Realization 29,500
Distribution of loss realization to partners
-Gain of Realization 78,220
Gulane,Capital 31,228
Tormis,Capital 31,228
Sailadin,Capital 15,644
Distribution of gain realization to partners
3.Accouts Payable 131,250
Cash 131,250
Payment of Liabilities
4.Gulane,Capital 568,608
Tormis,Capital 568,608
Sailadin,Capital 284,304
Cash 1,421,520
Distribution of cash to partners
Problem 8
1.150,000+70,000=220,000
(160,000)=60,000--> loss of Realization
2.60,000/2=30,000--> loss of Realization divided between the partners
3.160,000/2=80,000-->Cash to be distributed to partners
Problem 11
ABL Partnership
Statement of Liquidation
December 1,2015
Cash Non-Cash Liabilities B, A, B, L,
Asset Loan Capital Capital Capital
P/L Ratio 20% 40% 40%
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of NCA and Dist.
of Loss 260,000 (475,000) (43,000) (86,000) (86,000)
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of
Liabilities (240,000) (240,000)
BalanceS 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset
by Bantilles (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional investment by b 6000
Balances 51,000, 77000, 0 , (26000)
Additional investment by L 25000
Balances 76000 , 77000, 0 , (1000)
Additional investment by a and b. A = 333 B = 667
Balances 77000 , a capital 77000
Aparece Bantilles Lerin
Personal Assets 250,000 300,000 & 350,000
Less: Personal Liabilities 230,000 240,000 325,000
Excess (Deficit) 19667 54000 0
---Romelee velasco bsa-1b :)
Ariane N. Gata BSA 1A
ReplyDeletePROBLEM#1
Arenas, Dulay and Laurente
Statement of Liquidation
December 31, 2015
Cash NCA Liabilities A, Cap. D, Cap. L, Cap.
P/L Ratio 1/3 1/3 1/3
Bal, before
Liquidation 50k 2,350k 400k 900k 500k 600k
SalesofNCA&
dist.of Gain2,650k(2,350k) 100k 100k 100k
Balances 2,700k 400k 1m 600k 700k
Payment
of liab. (400k) (400k)
Bal. 2,300k 1m 600k 700k
Payments
toPartners(2,300k) (1m) (600k) ( 700k)
1. Sale of all Non-Cash Assets
Cash 2,650k
Non-cash assets 2,350k
A, Capital 100k
D, Capital 100k
L, Capital 100k
To record the gain of the partners.
2. Liabilities 400k
Cash 400k
To record payments to liabilities.
3.A, Capital 1m
D, Capital 600k
L, Capital 700k
Cash 2,300k
To record distribution of cash.
PROBLEM#3
1. Sale of Non-Cash Assets
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
G, Capital 19,488
T, Capital 19,488
S, Capital 9,744
To record cash and distribution of gain on realization.
2. Payments of liabilities
Liabilities 131,350
Cash 131,350
To pay the liabilities.
3. Distribution of cash to the partners.
G, Capital 581,088
T, Capital 456,288
S, Capital 384,144
Cash 1,421,520
To distribute cash to the partners.
PROBLEM#8
1.) Cash balance: 160k
Less: S,Cap. 150k
P,Cap. 70k
Loss on realization (60k)
2.) S, Capital :(60k)x50%=(30k)
P, Capital : (60k)x50%=(30k)
3.) S.Cap. P.Cap.
Bal. before
Liquidation 150k 70k
Loss on
Realization (30k) (30k)
Balance 120k 40k
PROBLEM#11
Cash NCA Liabilities B.Loan A.Cap. B.Cap. L.Cap.
P/L ratio 20% 40% 40%
Bal. before
Liquidation 25k 475k 240k 30k 120k 50k 60k
Sale of NCA
& dist. Of loss260k (475k) (43k) (86k) (86k)
Bal. 285k 240k 30k 77k (36k) (26k)
Payment of
Liabilities (240k) (240k)______________________________
Bal. 45k 30k 77k (36k) (26k)
Right of offset (30k) 30k
Bal. 45,000 77,000 (6,000) (26,000)
Add’l invest. 31,000 6,000 25,000
Bal. 76,000 77,000 (1,000)
Absorption (1,000) 1,000
Bal. 76,000 76,000
Payments to
Partners (76,000) (76,000)
Regine May T. Zabala BSA 1A
ReplyDeletePROBLEM#1
Arenas, Dulay and Laurente
Statement of Liquidation
December 31, 2015
Cash NCA Liabilities A, Cap. D, Cap. L, Cap.
P/L Ratio 1/3 1/3 1/3
Bal, before
Liquidation 50k 2,350k 400k 900k 500k 600k
SalesofNCA&
dist.of Gain2,650k(2,350k) 100k 100k 100k
Balances 2,700k 400k 1m 600k 700k
Payment
of liab. (400k) (400k)
Bal. 2,300k 1m 600k 700k
Payments
toPartners(2,300k) (1m) (600k) ( 700k)
1. Sale of all Non-Cash Assets
Cash 2,650k
Non-cash assets 2,350k
A, Capital 100k
D, Capital 100k
L, Capital 100k
To record the gain of the partners.
2. Liabilities 400k
Cash 400k
To record payments to liabilities.
3.A, Capital 1m
D, Capital 600k
L, Capital 700k
Cash 2,300k
To record distribution of cash.
PROBLEM#3
1. Sale of Non-Cash Assets
Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
G, Capital 19,488
T, Capital 19,488
S, Capital 9,744
To record cash and distribution of gain on realization.
2. Payments of liabilities
Liabilities 131,350
Cash 131,350
To pay the liabilities.
3. Distribution of cash to the partners.
G, Capital 581,088
T, Capital 456,288
S, Capital 384,144
Cash 1,421,520
To distribute cash to the partners.
PROBLEM#8
1.) Cash balance: 160k
Less: S,Cap. 150k
P,Cap. 70k
Loss on realization (60k)
2.) S, Capital :(60k)x50%=(30k)
P, Capital : (60k)x50%=(30k)
3.) S.Cap. P.Cap.
Bal. before
Liquidation 150k 70k
Loss on
Realization (30k) (30k)
Balance 120k 40k
PROBLEM#11
Cash NCA Liabilities B.Loan A.Cap. B.Cap. L.Cap.
P/L ratio 20% 40% 40%
Bal. before
Liquidation 25k 475k 240k 30k 120k 50k 60k
Sale of NCA
& dist. Of loss260k (475k) (43k) (86k) (86k)
Bal. 285k 240k 30k 77k (36k) (26k)
Payment of
Liabilities (240k) (240k)______________________________
Bal. 45k 30k 77k (36k) (26k)
Right of offset (30k) 30k
Bal. 45k 77k (6k) (26k)
Add’l invest. 31k 6k 25k
Bal. 76k 77k (1k)
Absorption (1k) 1k
Bal. 76k 76k
Payments to
Partners (76k) (76k)
ABIGAEL D. DACDAC BSA – 1B
ReplyDeletePROBLEM # 1: PG.4 -35
LUMP-SUM LIQUIDATION with GAIN on REALIZATION
Required:
1.)Entries
a. Sale of all non-cash assets.
Cash 2,650,000
Non-cash Assets 2,350,000
Gain on Realization 300,000
b. Distribution of gain on realization to the partners.
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
c. Payment of the liabilities
Liabilities 400,000
Cash 400,000
d. Distribution of cash to the partners
Arenas, Capital 1,000,000
Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
Arenas, Dulay and Laurente
Statement of Liquidation
June 30,2015
CASH NON- CASH LIABILITIES ARENAS, DULAY, LAURENTE,
ASSETS CAPITAL CAPITAL CAPITAL
Balances before
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sale of Non-cash
Assets and Distribution
Of Gain 2,650,000 (2,350,000) 100,000 100,000 100,000
Balances 2,700,000 400,000 1,000,000 600,000 700,000
Payment of
Liabilities (400,000) (400,000)
Balances 2,300,000 1,000,000 600,000 700,000
Payments to
Partners (2,300,000) (1,000,000) (600,000) (700,000)
PAGE 1 OF 2
PROBLEM # 3: PG.4-37
ReplyDeleteLUMP-SUM LIQUIDATION
Required:
Prepare the liquidation journal entries.
2015
June 30 Cash 1,133,700
Merchandise Inventory 612,300
Other Assets 472,680
Gain on Realization 48,720
Gain on Realization 48,720
Gulane, Capital 19,488
Tormis, Capital 19,488
Sailadin, Capital 9,744
Accounts Payable 131,350
Cash 131,350
Gulane, Capita 581,088
Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
PROBLEM #8: PG.4- 41
DISTRIBUTION OF CASH upon LIQUIDATION
Required:
1.) What is the amount of loss or gain on realization?
60,000
2.) How should loss or gain be divided between the partners?
EQUALLY
3.) How much cash should be distributed to each partner?
SORIA – 120,000 PARAS – 40,000
PROBLEM #11: PG.4-43
LUMP-SUM LIQUIDATION
Required: Prepare a statement of liquidation.
Aparece, Bantilles and Lerin
Statement of Liquidation
December 01,2015
CASH NON- CASH LIABILITIES BANTILLES, APARECE, BANTILLES, LERIN,
ASSETS LOAN CAPITAL CAPITAL CAPITAL
Balances before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sale of Non-cash
Assets and Distribution
Of Losses 260,000 475,000 (43,000) (86,000) (86,000)
Balances 285,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of
Liabilities (240,000) (240,000)
Balances 45,000 30,000 77,000 (36,000) (26,000)
Right of Offset
By Tria (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional Losses
To Aparece (77,000)
Balances 45,000 (6,000) (26,000)
Payment to
Partners (45,000) 6,000 26,000
PAGE 2 OF2
SILVA
ReplyDeleteProblem No. 1
Cash Non-cash assets Liabilities Arenas Dulay Laurente
Balances before 50,000 2,350,000 400,000 900,000 500,000 600,000
Liquidation
Sale of non-cash
assets 2,650,000 (2,350,000) 100,000 100,000 100,000
balances 2,700,000 400,000 1,000,000 600,000 700,000
settlement of
liabilities (400,000) (400,000)
balances 2,300,000 1,000,000 600,000 700,000
balances payments
to partners 2,300,000 (1,000,000) (600,000) (700,000)
Problem no. 3
Cash 582,800
Loss on realization 29,500
Merchandise Inventory 612,300
Cash 550,900
Gain on realization 78,220
Other Assets 472,680
Accounts Payable 131,350
Cash 131,350
Gulane, capital 568,608
Tarmis, capital 568,608
Sailadin, capital 284,304
Cash 1,421,520
Problem no. 8
Cash Non-cash assets Soria Paras
Balances before
Liquidation 220,000 150,000 70,000
Sales of NCA 160,000 (220,000) (30,000) (30,000)
Balances 160,000 120,000 40,000
Payments to
Partners (160,000) (120,000) (40,000)
1. the amount of loss or gain on realization is 60,000.
2. the loss or gain will be equal based on their sharing agreement.
3. Cash distributed to each partners is 120,000 and 40,000 respectively.
Problem no. 11
Cash NCA Liabilities Bantilles loan Aparece Bantilles Lerin
P/L 20 : 40 : 40
Balance before
Liquitdation 100,000 400,000 240,000 30,000 120,000 50,000 60,000
Sale of NCA 260,000 (400,000) (28,000) (56,000) (56,000)
Balances 360,000 92,000 (6,000) 4,000
Payment of
Liabilities 240,000 (240,000)
Balances 120,000 92,000 (6,000) 4,000
Offset of
Bantilles (6,000) 6,000
Balances 120,000 24,000 92,000 4,000
Payments to
Partners (120,000) (24,000) (92,000) (4,000)
Prob # 1
ReplyDeleteDate
2015
Jun 30 Cash 2650000
Non- cash asset 2350000
Gain on realization 300000
Sale of non-cash asset .
/ Gain on realization 300000
Arenas, Capital 100000
Dulay,Capital 100000
Laurente, Capital 100000
Distribution of gain .
/ Accounts Payable 400000
Cash 400000
Payment of liabilities .
/ Arenas,Capital 1000000
Dulay , Capital 600000
Laurente, Capital 700000
Cash 2300000
Distribution of cash to partners .
Prob # 3
Date
2015
Jun 30 Cash 582800
Loss on realization 29500
Merchandise Inventory 612300
Sale of merchandise inventory .
/ Gulane,Capital 11800
Tormis,Capital 11800
Sailadin, Capital 5900
Loss on realization 29500
Distribution of loss .
/ Cash 550900
Gain on realization 78220
Other Asset 472680
Sale of other asset.
/ Gain on realization 78220
Gulane,Capital 31288
TORMIS,Capital 31288
Sailadin,Capital 15644
Distribution of gain .
/ Accounts Payable 131350
Cash 131350
Payment of liabilities.
Prob # 8
Soria Paras
Loss on realization (220000-160000)/2 30000 30000
Capital balance of the partners 150000 70000
Total P 120000 P 40000
1. P 60000is the amount of loss.
2. P 30000 is the loss be divided between the partners .
3. P 120000 And P 40000 – the amount distributed respectively to Soria and Paras .
Prob # 11
Cash 25000 + 260000 - 240000+6000 + 25000 + 667 = 76667
Non-cash 475000 - 475000 = 0
Acounts Payable 240000 - 240000 = 0
Loan, Bantiles 30000 - 30000 = 0
Aparece,Capital 120000 - 43000 - 333 = 76667
Bantiles, Capital 50000 - 86000 + 30000+6000-667+667 = 0
Lerin, Capital 60000 - 86000 + 26000-26000-1000 = 0
MARCON, MAE A.
ReplyDeletePROBLEM 1
Cash 2 650 000
Non Cash Assets 2 350 000
Arenas, Capital 135 000
Dulay, Capital 75 000
Laurente, Capital 90 000
Liabilities 400 000
Cash 400 000
Arenas, Capital 1 035 000
Dulay, Capital 575 000
Laurente, Capital 690 000
Cash 2 300 000
PROBLEM 3
Cash 582 800
Gulane, Capital 11 800
Tormis Capital 11 800
Sailadin, Capital 5 900
Merchandise Inventory 612 300
Cash 550 900
Gulane, Capital 31 288
Tormis Capital 31 288
Sailadin, Capital 15 644
Other Assets 472 680
Gulane, Capital 568 608
Tormis Capital 568 608
Sailadin, Capital 284 304
Cash 1 421 520
PROBLEM 8
1 P 60,000
2 based on their PL ratio
3 P 30,000
P 30,000
PROBLEM 11
Cash A/R Inventories P&P A/P L/P A, C B, C L, C
Bal 25000 75000 100000 300000 240000 30000 120000 50000 60000
Sales 260000(75000) (100000) (300000) (43000) (86000(86000)
Of NCA &Dist. of Losses
_______ ==================== __________________________________
Bal 285000 240000 30000 77000 (36000)(26000)
Pymnt(270000) (240000)(30000)
Of Liab
_______ ==========__________________
Bal 15000 77000 (36000) (26000)
Abspt 36000 26000
Method______ ______ ===========
Bal 15000 77 000
Pymnt(15000) (77000)
To Partners
====== ========
DAVOCOL, JOSHUA AMIEL BSA-1B
ReplyDeleteProblem #1
Date
2015
June 30 Cash 2,650,000
Non-cash Assets 2,350,000
Gain on Realization 300,000
To record sale of non-cash assets.
Gain on Realization 300,000
Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000
To record division of gains.
Liabilities 400,000
Cash 400,000
To record payment of liabilities.
Arenas, Capital 766,667
Dulay, Capital 766,667
Laurente, Capital 766,666
Cash 2,300,000
To record division of cash.
Arenas, Dulay & Laurente
Statement of Liquidation
June 30, 2015
Cash Non-Cash Assets Liabilities Arenas,Capital Dulay,Capital Laurete, Capital
P/L 2/5 2/5 1/5
Balance before
Liquidation 50,000 2,350,000 400,000 900,000 500,000 600,000
Sales of Non-Cash Assets
& Distribution of Gains 2,650,000 (2,350,000) 100,000 100,000 100,000
Balances 2,700,000 1,000,000 600,000 700,000
Payment of Liabilities (400,000) 400,000
Balances 2,300,000 1,000,000 600,000 700,000
Payments to Partners 2,300,000) (1,000,000) (600,000) (700,000)
Problem #3
Date
2015
June 30 Cash 582,800
Loss on Realization 29,500
Merchandise Inventory 612,300
Gulane, Capital 11,800
Tormis, Capital 11,800
Sailadin, Capital 5,900
Loss on Realization 29,500
Cash 550,900
Other Assets 472,680
Gain on Realization 78,220
Gain on Realization 78,220
Gulane, Capital 31,288
Tormis, Capital 31,288
Sailadin, Capital 15,644
Accounts Payable 131,350
Cash 131,350
Gulane, Capital 568,608
Tormis, Capital 568,608
Sailadin, Capital 284,304
Cash 1,421,520
continuation
ReplyDeleteDAVOCOL, JOSHUA AMIEL BSA-1B
Problem #8
1.) Gain=P60,000 ---(150,000+70,00-160,000)
2.) Equally (based on their P/L ratio)
3.) P60,000/2 = P30,000 (to each partner)
Problem #11
ABL Partnership
Statement of Liquidation
Dec. 1, 2015
Cash Non-Cash Assets Accounts Payable Loans Payable Aparece,Capital Bantilles,Capital Lerin, Capital
P/L 20% 40% 40%
Balance before
Liquidation 25,000 475,000 240,000 30,000 120,000 50,000 60,000
Sales of Non-Cash Assets
& Distribution of Gains 260,000 475,000 (43,000) (86,000) (86,000)
Balances 2,850,000 240,000 30,000 77,000 (36,000) (26,000)
Payment of Accounts
Payable (240,000) (240,000)
Balances 45,000 30,000 77,000 (36,000) (26,000)
Offset of Bantilles' Loan
against deficiency (30,000) 30,000
Balances 45,000 77,000 (6,000) (26,000)
Additional Investments
of Bantilles 6,000 (6,000)
Balances 51,000 77,000 (26,000)
Additional Investments
of Lerin 25,000 77,000 25,000
Balances 76,000 (1,000)
(333) (667) 1,000
Additional Investments
of Aparece 667 76,667 667
Payment to Partners (76,667) (76,667)