Homework Help [Partnership Liquidation - Lump Sum]

Hello, need help answering the attached exercise related to partnership. Please provide solutions and detailed explanations.

AS Of January 31 , 2019 , the following transactions occurred :" Noncash assets were sold at 90 % its book value . Liquidation expenses of P 50 , 000 were paid . 20% of the liabilities to third persons were settled . 1 . What is the amount of cash received by partner Chinny on January 31 , 2019 ? 2 . How much was received by Alphonse ? 3 . How much should the non-cash assets be sold to avoid incurring deficit' amongst . the partners ? Disregard . liquidation expenses .Problem 3 . On December 31 , 2018 , the Statement of Financial Position of Alpine Partnership with profit or loss ratio of 5:3:2 of respective partners Alphonse , Brad and Chinny . showed the following information :" Cash P1 , 600, 000 Total P 2, 000, 000 Liabilities Noncash 1 , 400 , 000 Alphonse , 100, 000 assets Capital Brad , Capital 500 , 000 Chinny , 400, 000 Capital On January 1 , 2019 , the partners decided to liquidate the partnership in installment . All partners are legally declared to be personally insolvent