The statement of financial position of PRUTZ Partnership as of December 31, 2017 show the following balances before they decided to liquidate Cash P 4,200; Receivable from Kahel P5,000; Other Assets P200,000; Liabilities P 75,000; Apol, Capital P60,000; Kahel, Capital P50,000; Santol, Capital P24,200. Profit and Loss ratio were divided in the ratio 30%, 30% and 40% to Apol, Kahel and Santol respectively. The Other Assets were sold in 4 equal installment with gain (loss) on realization amounting to (P14,000), P0, (P47,000) and P45,000 respectively during the months of January, February, March and April 2018. For the first installment-sale of the other assets, the cash available distributed to the partners the book value of the assets sold per instalment amounted to: for the 3rd instalment-sale of the assets, the other assets were sold for: capital interest of Kahel amounted to: loss absorption capacity of Kahel amounted to final distribution of Cash available Apol upon liquidation would be: final distribution of Cash available Kahel upon liquidation would be: final distribution of Cash available Santol upon liquidation would be:
The statement of financial position of PRUTZ
the book value of the assets sold per instalment amounted to:
for the 3rd instalment-sale of the assets, the other assets were sold for:
capital interest of Kahel amounted to:
loss absorption capacity of Kahel amounted to
final distribution of Cash available Apol upon liquidation would be:
final distribution of Cash available Kahel upon liquidation would be:
final distribution of Cash available Santol upon liquidation would be:
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