1. A, B and C are partners with capital balances and profit and loss ratios of P50,000 (30%), P70,000 (20%) and P79,500 (50%), each respectively. The partnership owes C P20,000, while B owes the partnership P10,000. D is admitted into the partnership by purchasing 1/2 of the capital of B for P40,000 and investing P30,000 for a 40% interest in the partnership. The partners agree that there should be asset revaluation. After D's admission, total partnership capital will be P300,000.

How much is the capital of B after D's admission?

a. 38,100 b. 35,300 c. 34,100 d. 39,100

How much is the share of D in the asset adjustment after D's admission?

a. 55,000 b. 50,000 c. None d. 22,000

How much is the capital of C after D's admission?

a. 104,500 b. 77,250 c. 89,750 d. 79,500

2. A, B and C are partners with capital balances and profit and loss ratios of P50,000 (30%), P70,000 (20%) and P79,500 (50%), each respectively. The partnership owes C P20,000, while B owes the partnership P10,000. D is admitted into the partnership by purchasing 1/2 of the capital of A and B for P70,000 and investing P30,000 for a 40% interest in the partnership. The partners agree that there should be asset revaluation. After D's admission, total partnership capital will be P275,000.

How much is the capital of C after D's admission?

a. 79,500 b. 78,600 c. 77,250 d. 80,250

How much is the bonus of C from D after D's admission?

a. 750 b. 2,250 c. None d. 1,800

How much is the capital of A after D's admission?

a. 24,460 b. 30,500 c. 29,650 d. 25,450

3. A, B and C are partners with capital balances and profit and loss ratios of P50,000 (30%), P70,000 (20%) and P79,500 (50%), each respectively. The partnership owes C P20,000, while B owes the partnership P10,000. D is admitted into the partnership by purchasing 1/2 of the capital of A and B for P70,000 and investing P30,000 for a 40% interest in the partnership. After D's admission, total partnership capital will be P235,000.

How much is the capital of A after D's admission?

a. 29,650 b. 25,450 c. 24,460 d. 28,660

How much is the capital of D after D's admission?

a. 90,000 b. 93,750 c. 91,800 d. 94,000

4. A, B and C are partners with capital balances and profit and loss ratios of P50,000 (30%), P70,000 (20%) and P79,500 (50%), each respectively. The partnership owes C P20,000, while B owes the partnership P10,000. D is admitted into the partnership by purchasing 1/2 of the capital of A and B for P70,000 and investing P30,000 for a 40% interest in the partnership.

How much is the bonus of B from D, after D's admission?

a. 360 b. 300 c. None d. 8,000

What is the capital balance of B after the admission of D?

a. 38,100 b. 34,640 c. 35,300 d. 35,000

5. A, B and C are partners with capital balances and profit and loss ratios of P50,000 (30%), P70,000 (20%) and P79,500 (50%), each respectively. The partnership owes C P20,000, while B owes the partnership P10,000. The partners decide to liquidate and at this time, B receives an equipment given a value of P5,000 from the partnership, in addition, B and C receive a total of P17,000 and P15,000 non-cash assets remain unsold. The partnership also paid P20,000 liquidating expenses and withheld P20,000 cash from distribution, P5,000 of which is appropriated for unpaid liabilities since their creditors could not be located at this time.

How much is the loss on sale of the non-cash assets?

a. 187,500 b. 132,500 c. 137,500 d. 152,500

How much cash will C receive?

a. None b. 1,286 c. 22,000 d. 5,750