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Chapter 5 Accounting for Partnership Dissolution * 273 NAME PROFESSOR: Score: Section: Date Problem 5-33 Instruction: Encircle th Multiple Choice r answers with good form computations e letter corresponding to the best answer. Support 1. Dunn and G rey are partners with capital account balances of P90,000 and a one-third partnership's assets, P210,000 respectively. They agree to admit Zorn as a partner with interest in capital and profits, after agreed revaluation of for his investment of P150,000. The increase in Grey's capital as a result of the revaluation of partnerships assets for the admission of Zorn is: a. P 70,000 b. P100,000 c. P110,000 d. P150,000 2. On June 30,200A, the partnership statement of financial position of Coll, Maduro, and Prieto is as follows: Assets, at cost P180,000 P&L Ratio Coll, Loan Coll, Capital Maduro, Capital Prieto, Capital 20% 20% 60% 9,000 42,000 39,000 90,000 Coll has decided to retire from the partnership. By mutual agreement, the assets are to be adjusted to their fair value of P216,000 at June 30, 200A. It was agreed that the partnership would pay Coll P61,200 cash for C interest, including Coll's loan which is to be repaid in full. Bonus to Coll is to be oll's partnership Coll's retirement, what is the balance of Maduro's capital 1recognized. After account? a. P 36,450 b. P 39,000 C. P 45,450 d. P 46,200