Reference no: EM132905497

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 Liabilities P 75,000Kahel, Loan 5,000 Apol, Capital 60,000Other Assets 200,000 Kahel, Capital 50,000 Santol, Capital 24,200. Profit and Loss ration 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.

REQUIRED:

Problem 1: For the first instalment-sale of the other assets, the cash available distributed to the partners amounted to?

Problem 2: the book value of the assets sold per instalment amounted to

Problem 3: for the 3nd instalment-sale of the assets, the other assets were sold for

Problem 4: capital interest of Kahel amounted to

Problem 5: loss absorption capacity of Kahel amounted to

Problem 6: final distribution of Cash available Apol upon liquidation would be

Problem 7: final distribution of Cash available Kahel upon liquidation would be

Problem 8:  final distribution of Cash available Santol upon liquidation would be