leaving a balance of P1,100,000 in cash. What is the amount of loss or gain in realization? How much cash is distributed to Orcajada?
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Roberto Orcajada and Ryan Morales are partners who share
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- Roberto Orcajada and Ryan Morales are partners who share profits and losses equally. The credit balances of their capital accounts before liquidation are 700,000 and 900,000, respectively. They decided to liquidate their partnership. They sold all the noncash assets and paid all the partnership's liabilities leaving a balance of 1,100,000 in cash. 1. How much cash is distributed to Orcajada? 2. What is the amount of loss or gain in realization?Roberto Orcajada and Ryan Morales are partners who share profits and losses equally. The credit balances of their Capital accounts before liquidation are P700,000 and P900,000, respectively. ... They sold all the noncash assets and paid all the partnership's liabilities, leaving a balance of P1,100,000 in cash. What is the amount of gain/ (loss) on realization?Roberto Orcajada and Ryan Morales are partners who share profits and losses equally. The credit balances of their capital accounts before liquidation are 700,000 and 900,000, respectively. They decided to liquidate their partnership. They sold all the noncash assets and paid all the partnership's liabilities leaving a balance of 1,100,000 in cash. 2. What is the amount of loss or gain in realization?
- Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership. Prior to realization, their capital balances are $28,000 and $18,000, respectively. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $35,000.a. What is the amount of a gain or loss on realization?b. How should the gain or loss be divided between Hewitt and Patel?c. How should the cash be divided between Hewitt and Patel?Cynthia Natividad and Domingo Ungria with capital balances of P340,000 and P360,000, respectively, decided to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is P820,000 of cash remaining. If the partners share profits and losses equally, how much cash will be distributed to Ungria?Francis, Gary, and Joel are partners who share profits and losses in the ratio of 2:3:5. The partners have decided to liquidate the partnership. Their capital accounts show the following balances: Francis -P60,000 credit: Gary-P 90,000 credit: Joel-P30.000 debit. How much is the cash available for distribution?
- Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership. Prior to realization, their capital balances are $28,000 and $18,000, respectively. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $35,000. a. What is the amount of a gain or loss on realization?David Oliver and Umar Ansari, with capital balances of $28,000 and $35,000, respectively,decide to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is $67,000 of cash remaining. If the partners share income and losses equally, how should the cash be distributed?Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership. Prior to realization, their capital balances are $28,000 and $18,000, respectively. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $35,000. What is the amount of a gain or loss on realization? How should the gain or loss be divided between Hewitt and Patel? How should the cash be divided between Hewitt and Patel? If an amount is zero, enter "0".
- David Oliver and Umar Ansari, with capital balances of $28,000 and $35,000, respectively, decide to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is $67,000 of cash remaining. If the partners share income and losses equally, how should the cash be distributed? If an amount is zero, enter in "0". Oliver and AnsariDistribution of Cash Oliver Ansari Total Capital balances before realization $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Division of gain on realization fill in the blank 4 fill in the blank 5 Capital balances after realization $fill in the blank 6 $fill in the blank 7 Cash distributed to partners fill in the blank 8 fill in the blank 9 Final balances $fill in the blank 10 $fill in the blank 11Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership. Prior to realization, their capital balances are $28,000 and $18,000, respectively. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $35,000. a. What is the amount of a gain or loss on realization? b. How should the gain or loss be divided between Hewitt and Patel? Hewitt PatelDavid Oliver and Umar Ansari, with capital balances of $47,000 and $63,000, respectively, decide to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is $138,000 of cash remaining. If the partners share income and losses equally, how should the cash be distributed? If an amount is zero, enter in "0". blankOliver and AnsariDistribution of Cash Oliver Ansari Total Capital balances before realization $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Division of gain on realization fill in the blank 4 fill in the blank 5 Capital balances after realization $fill in the blank 6 $fill in the blank 7 Cash distributed to partners fill in the blank 8 fill in the blank 9 Final balances $fill in the blank 10 $fill in the blank 11