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How much of the available cash for distribution

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Q1. Capital balances in the CARE Partnership are C's capital P500,000, A's capital P400,000, R's capital P300,000, and E's capital P200,000, and income ratios are 4:3:2:1, respectively. E withdraws from the firm following payment of P290,000 in cash from the partnership. A's capital balance after recording the withdrawal of E is?

Q2. The capital balances in the BEE are Betty's capital P600,000, Eli's capital P500,000, and Edna's capital P400,000, and income ratios are 5:3:2, respectively. The BEER Partnership is formed by admitting Rina to the firm with a cash investment of P600,000 for a 25% capital interest. The bonus to be credited to Edna's capital in admitting Rina is?

Q3. DUA and LIPA share earnings in a 60:40 ratio. They have decided to liquidate their partnership. A portion of the assets has been sold but other assets with a carrying amount of P62,000 still must be realized. All liabilities have been paid, and cash of P28,000 is available for distribution to partners. The capital accounts show balances of P90,000 for DUA and P55,000 for LIPA. How much of the available cash for distribution should be given to DUA?

Reference no: EM132800043

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