Problem 41: ·B utch, .Elen, Pit are partners ·in. i company that is being liquidated.

The three partners have capital balances of P210;00.0, P168,000 and P 162,000. In
addition,_the partnership previously loaned Pit P30,00O and Butch had loaned the
P~ership 'P60 ,000. Assuming the right of offs~t is applie1, what is the net capital
P0s1tion of the three partners when tlie liquidation begins, respectively?
a. 270,00o;· 168 000· 132 000 . c. 210,000; 168,000; 162,000
-h. 240,000; 16a:ooo; 102:000 . · d. 1so,ooo; 16s,ooo; 192,000
 Problem 42: Magno, Butch and Monteza are partners who share profits and I~
in the ratio. of 2:3:5. The partners have decided to liquidate the partnership. 1beir
capital accounts show the foliowing balances; Magno 120,000; Butch ~180,000
and Monteza (P40,000) after the, sale of non-cash assets and the payment of
liabilities. What is the amount of cash available for distribution?
a. P120,000 c. P240,000
b. P180,000 . d. P260,000

Problem 43: A, B, C and D are partners, sharing earnings in the ratio of 3:4:6:8.
The balance of their capital accounts on December 31, 2020 are as follows:
A 3,000
B · 75,000
C 7-5,000
D .27,000

The partners decided to liquidate, and they accordingly ,convert the non-cash
assets into P69,600 of cash. After paying the liabilities amounting to P9,000, they
have P66,600 to divide. Assume that a debit balance in any partner's capital is
uncollectible. The book value of the non-cash assets·am ounted to:
a. P75,600 . c. Pl36,200
b. P183,000 d. _P189 ,000

The shate of B in the loss upon conversion of the non-cash assets into cash was
a. P21,600 . c. P183,000
b. P75,600 d . Pl6,200

Problem 44: The partnership of A, B and C is liquidated and the ledger shows the
following: - _ _ '

Cash . 80,000
Inventories 100,000
r'
A-ccounts payable 60,000
A, capital (50%) .,
40,000
B, capital (25%) 45,000
C, capital (25%) ·3s,ooo
·If all cash available is distributed ~ediately
a. 'A,B And C should get P26,667
b. A,B And C should get P6,667
, de.. A should get Pl0,000 and Band c' s·h ould get PS 000 ··· h
B should get PlS,000 and c J:>5,000 ·' eac
I •

Problem. . 45: The capital .balances of the partners· m

· A~'Z
I partners h 1p
' are Marl<
.
100,00?, ~om 62,500; Enc 1~,500. The partners' profit and loss ratio is 3:2:l,
respectively. The partners decided to liquidate the p artn ~rs h'1p. They sold all we
non-cas h assets fior 93,750 cash. After -settlement of all liabilities amounting t0
•30,00(?,. they still have 70,000 cash left for distribution. The loss on realization of
the non-cash assets:
a. Pl00,000 c. Pl 12,500
b: P70,000 d. 'PlOS,000

Assuming that any ?ebit balance· of partners' capital is uncollectible the share of
Mark on 70,000 cash for distribution is · '
a. P45,000 c. Pl00,000
· b. P47,500 · d. P44,500

Problem 46: Tite Batman, Superman and Wonder Woman partnership had the
following ba!an~e sheet just befor!! entering liquidation:
Cash 40,000 Liabilities _ 520,000
Noncash assets 1,200,000 Batman, capital 240,000
Superman, capital 160,000
Wonder Woman, capital 320,000
Total 1,240,000 Total 1,240,000

Batman, Superman and Wonder woman share profits and losses in a ratio of 2:4:4.
Noricash _assets - were s9ld for P720,000. Liquidation expenses were P40,000.
Assume that St.i~rman was personally ins9lvent and could not contribute any
assets to the partnership, while Batman and Wonder woman were both solvent.
· What amount of cash would Batman have received from the distribution of
partnership assets?
a. Pi52,000 c. P96,000
b. P120,000 . d. P136,000

Probiem 4T: The partnership account of_A, B and C who share profits and losses
. in the ratio of 3:3:4 are as follows: · · · ·

A, drawing (debit .balance) 90,000

C, drawing (credit balance) 30,000
B, loan 150,000
480,000
A, capi~
390,000
B, capital
420,000
C, capital
Total assets· amounted to P2,100,000, including P240,000 cash and ?abilities total
P720
" ,000 . The p artn · h'1p w· as liquidated in March
, ers . .•2020
. .and C received
. . P360,000
cash ~ayment in the liquidation. The loss ·o n realization is . .
a. P225 000 c. P240,000 -·
b. P3oo:ooo . d. p2ss,ooo