Maea, Hannah, Jane, and Lei are partners of PAST Partnership. They share P/L ration on 4:3:2:1 respectively. Their capital and loan balances were as follows:

                                                                                     Capital                            Loan

                                                         Maea                 480,000                          20,000 cr.

                                                         Hannah             350,000                          50,000 dr.

                                                         Jane                    300,000                         -

                                                         Lei                       190,000                          10,000 cr.

 

The following questions must be treated independent to each other.

 

1. 1. How much is the cash to be received by Hannah if the cash available for the first payment to partners is 330,000?

2 . During the first installment, only Jane and Lei received cash. Jane received 26,667 while Lei received 63,333. How much is the cash to be received during the second installment by Maea if the cash available is 175,000?

3 .  All partners received certain amount of cash during the previous installment. What is the cash to be received by Jane if the cash available for the current installment is 300,000?

4 . What is the amount received by Lei during the first installment assuming that Maea received 75,000?

5 . How much is the total amount distributed to the partners during the first installment assuming that Maea received 140,000?

Answer rating: 100% (QA)

To solve each one 1 Cash for Hannah in first installment Calculate Hannahs profitsharing ratio 3 par... View the full answer