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What is the capital balance of ditas immediately

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Q1. Daza, Diaz, and Ditas are partners wtih capital balances of P80,000, P120,000 and P160,000, respectively. They share profits and losses in the ratio of 3:4:3. Diaz decides to withdraw from the partnership. Diaz receives P150,000 in settlement of his interest. If the bonus method is used, what is the capital balance of Ditas immediately after the retirement of Diaz?

Q2. Using the same information in Daza, Diaz, and Ditas partnership and assuming asset revaluation method is used, what is the capital balance of Ditas immediately after the retirement of Diaz?

a. 137,500

b. 182,500

c. 190,000

d. 200,000

Q3. As of December 31, 2020, the books of 3E Partnership showed capital balances of E1- 40,000; E2 - 25,000; E3-5,000. The partners' profits and loss ratio was 3:2:1, respectively. The partners decided to dissolve and liquidate. They sold all the non-cash assets for P37,000 cash. After settlement of all liabilities amounting to P12,000, they still have P28,000 cash left for distribution. The loss on realization of the non-cash assets was?

Reference no: EM133064218

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