9 The adjusted trial balance of Jason, Moore and Olsen partnership on June 30, 2016 was...

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9 The adjusted trial balance of Jason, Moore and Olsen partnership on June 30, 2016 was as follows: outside suppliers were paid. It was also agreed that P50,000 cash be restricted for The partners agreed to liquidate. The following liquidation schedule was given to you: future liquidation expenses every month until the last liquidation period. July- P80,000 were collected for the entire accounts receivable. Half of the liabilities to P 400,000 Cash Accounts Receivables- net Properties Loan to Jason Goodwill Total 50,000 50,000 P1.400,000 Accounts Payable Loan from Olsen Jason, Capital (30%) Moore, Capital (30%) Olsen, Capital (40%) Total P 380,000 20,000 300,000 450,000 250.000 P1,400,000 Half of the properties were sold for P300,000. The remaining liabilities were paid net'of a discount granted of P10,000. Liquidation expenses of P40,000 were also paid. Sept. - Remaining properties were sold for P300,000 net of liquidation expenses of P30,000. Required: Prepare a statement of liquidation supported by schedules of cash distribution. 10. Using the data in no. 9, instead of preparing a statement of liquidation, prepare a schedule of safe payments for July, August and September using the following steno: dut 9 The adjusted trial balance of Jason, Moore and Olsen partnership on June 30, 2016 was as follows: outside suppliers were paid. It was also agreed that P50,000 cash be restricted for The partners agreed to liquidate. The following liquidation schedule was given to you: future liquidation expenses every month until the last liquidation period. July- P80,000 were collected for the entire accounts receivable. Half of the liabilities to P 400,000 Cash Accounts Receivables- net Properties Loan to Jason Goodwill Total 50,000 50,000 P1.400,000 Accounts Payable Loan from Olsen Jason, Capital (30%) Moore, Capital (30%) Olsen, Capital (40%) Total P 380,000 20,000 300,000 450,000 250.000 P1,400,000 Half of the properties were sold for P300,000. The remaining liabilities were paid net'of a discount granted of P10,000. Liquidation expenses of P40,000 were also paid. Sept. - Remaining properties were sold for P300,000 net of liquidation expenses of P30,000. Required: Prepare a statement of liquidation supported by schedules of cash distribution. 10. Using the data in no. 9, instead of preparing a statement of liquidation, prepare a schedule of safe payments for July, August and September using the following steno: dut

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