Reference no: EM132905499

The partners Aces, Hearts, Cloves and Joker share profit and loss equally. Capital balances before liquidation amounted to P75,000, P100,000, P125,000 and P50,000 respectively. Partner Hearts' Due to partnership amounted to P15,000 and Loan Payable to Joker amounting to P10,000.

REQUIRED:

Problem 1: A cash priority program would show that the loss absorption potential for Aces would amount to?

Problem 2: a cash priority program would show that the loss absorption potential for Hearts would amount to?

Problem 3: a cash priority program would show that the loss absorption potential for Cloves would amount to?

Problem 4: a cash priority program would show that the loss absorption potential for Joker would amount to?

Problem 5: if the cash available for distribution amounted to P75,000, Aces will receive?

Problem 6: if the cash available for distribution amounted to P75,000, Hearts will receive?

Problem 7: if the cash available for distribution amounted to P75,000, Clover will receive?

Problem 8: if the cash available for distribution amounted to P75,000, Joker will receive?

Problem 9: if Heart were to receive P12,500, total cash available would have been ?

Problem 10: how much should be the minimum cash available before the profit and loss ratio will be used in the distribution of cash to partners?