5 A, B and C are partners. On January 2, 2020, their capital balances and profit and loss ratio are as follows:     `  Capital  P&L ratio  A  P625,000  60%  B  1,250,000  25%  C  1,500,000  15%     C withdrew P250,000 during the year. Net loss on December 31, 2020 totaled P500,000. Hence, the partners decided to liquidate the partnership. It is uncertain how much of the assets will ultimately yield but the favorable realization is expected. It is, therefore, agreed to distribute cash as it becomes available. There are unpaid liabilities of P125,000 and cash of P17,500. 1. The amount of non-cash assets before liquidation is: _______ 2. The amount to be realized by the partnership on the sale of its assets so that A will receive a total of P475,000 in the final settlement of his interest is: __________

Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership. Prior to realization, their capital balances are $6,000 and $4,000, respectively. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $8,000. Question Content Area a.  What is the amount of a gain or loss on realization?   $fill in the blank a082cef9b012fe9_2   Question Content Area b.  How should the gain or loss be divided between Hewitt and Patel? Hewitt   $fill in the blank fe57f5f50043050_2 Patel   $fill in the blank fe57f5f50043050_4   Question Content Area c.  How should the cash be divided between Hewitt and Patel? If an amount is zero, enter "0". blankHewitt and PatelDistribution of Cash   Hewitt Patel Capital balances before realization $fill in the blank 2e3dfe08df82014_1 $fill in the blank 2e3dfe08df82014_2 Division of gain or loss on realization fill in the blank…

In 2017, Ryan, Chen and Win established a firm partnership and they agreed to share the profits in a 2:1:1 ratio. In mid-2018, with operations running profitably, they decided to dissolve the firm's partnership. Based on the following facts, prepare a summary of the partner's capital balance showing how much, if any, is available to settle in final settlement. A B Value of net assets paid in to partnership firm... $50,000 $22,500 $20,000 Company partnership net income for 1976 $30,000 divided into Ratio 2:1:1.. $15,000 $7,500 $7,500 1986 private take... $15,000 $10,000 $10,000 Net assets at the time of dissolution are assessed For $65,000 and distributed to $16,250 $16,250 Allies according to a ratio of 2:1:1..... $32,500

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