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Assignment Liquidation Lump Sum

The statement of liquidation shows the balances of cash, other assets, liabilities, and capital accounts for the partnership of Villanueva and Resultay as of December 31, 2019. It details the realization of non-current assets, payment of liabilities, additional investment, and final payment to partners to settle the accounts. Upon completion of these transactions, all asset, liability, and capital account balances were settled, resulting in a net position of zero for the partnership.

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Cresenciano Malabuyoc
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5K views10 pages

Assignment Liquidation Lump Sum

The statement of liquidation shows the balances of cash, other assets, liabilities, and capital accounts for the partnership of Villanueva and Resultay as of December 31, 2019. It details the realization of non-current assets, payment of liabilities, additional investment, and final payment to partners to settle the accounts. Upon completion of these transactions, all asset, liability, and capital account balances were settled, resulting in a net position of zero for the partnership.

Uploaded by

Cresenciano Malabuyoc
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Partnership of Arenas, Dulay, Laurente

Statement of Liquidation
June 30, 2019
Share Equally
Cash Other Assets Liabilities Arenas, Capital Dulay, Capital
Balances 50,000 2,350,000 400,000 900,000 500,000
Realization of NCA 2,650,000 (2,350,000) 100,000 100,000
Balances 2,700,000 - 400,000 1,000,000 600,000
Payment of Liabilities (400,000) (400,000)
Balances 2,300,000 - - 1,000,000 600,000
Payment to Partners (2,300,000) (1,000,000) (600,000)
Balances - - - - -

1. Cash 2,650,000
Other Assets 2,350,000
Gain on Realization 300,000

2. Gain on Realization 300,000


Arenas, Capital 100,000
Dulay, Capital 100,000
Laurente, Capital 100,000

3. Liabilities 400,000
Cash 400,000

4. Arenas, Capital 1,000,000


Dulay, Capital 600,000
Laurente, Capital 700,000
Cash 2,300,000
ente

are Equally
Laurente, Capital
600,000
100,000
700,000

700,000
(700,000)
-
Partnership of Miranda, Leon, Estoque
Statement of Liquidation
March 31, 2019
Share Equally
Cash Other Assets Liabilities Miranda, Capital Leon, Capital
Balances 150,000 2,600,000 750,000 400,000 600,000
Realization of NCA 2,150,000 (2,600,000) (150,000) (150,000)
Balances 2,300,000 - 750,000 250,000 450,000
Payment of Liabilities (750,000) (750,000)
Balances 1,550,000 - - 250,000 450,000
Payment to Partners (1,550,000) (250,000) (450,000)
Balances - - - - -

1. Cash 2,150,000
Loss on Realization 450,000
Other Assets 2,600,000

2. Miranda, Capital 150,000


Leon, Capital 150,000
Estoque, Capital 150,000
Loss on Realization 450,000

3. Liabilities 750,000
Cash 750,000

4. Miranda, Capital 250,000


Leon, Capital 450,000
Estoque, Capital 850,000
Cash 1,550,000
que

are Equally
Estoque, Capital
1,000,000
(150,000)
850,000

850,000
(850,000)
-
Sold for 582,800
Partnership of Gulane, Tormis, Sailadin
Statement of Liquidation
June 30, 2019
0.40
Cash Merchindise InveOther Assets Liabilities Gulane, Capita
Balances 419,170 612,300 472,680 131,350 561,600
Realization (inventory) 582,800 (612,300) (11,800)
Realization (other asset) 550,900 (472,680) 31,288
Balances 1,552,870 - 131,350 581,088
Payment of Liabilities (131,350) (131,350)
Balances 1,421,520 - - 581,088
Payment to Partners (1,421,520) (581,088)
Balances - - - -

cash 582,800
Loss on realization 29,500
Merchandise Inventory 612,300

Gulane, Capital 5,900


Tormis, Capital 11,800
Sailadin, Capital 11,800
Loss on Realization 29,500

Liabilities 131,350
Cash 131,350

Gulane, Capital 581,088


Tormis, Capital 456,288
Sailadin, Capital 384,144
Cash 1,421,520
din

0.40 0.20
Tormis, Capital Sailadin, Capital
436,800 374,400
(11,800) (5,900)
31,288 15,644
456,288 384,144

456,288 384,144
(456,288) (384,144)
- -

Cash 550,900
other asset 472,680
Gain on realization 78,220

gain on realization 78,220


Gulane, Capital 31,288
Tormis, Capital 31,288
Sailadin, Capital 15,644
Partnership of Villanueva, Resultay
Statement of Liquidation
December 31, 2019
0.75 0.25
Cash Other Assets Liabilities Villanueva, CapitalResultay, Capital
Balances 250,000 450,000 300,000 200,000 200,000
Realization of NCA 170,000 (450,000) (210,000) (70,000)
Balances 420,000 - 300,000 (10,000) 130,000
Payment of Liabilities (300,000) (300,000)
Balances 120,000 - - (10,000) 130,000
Additional Investment 10,000 10,000
Balances 130,000 - - - 130,000
Payment to Partners (130,000) - (130,000)
Balances - - - - -

1. Cash 170,000
Loss on Realization 280,000
Other Assets 450,000

2. Villanueva, Capital 210,000


Resultay, Capital 70,000
Loss on Realization 280,000

3. Liabilities 300,000
Cash 300,000

4. Cash 10,000
Villanueva, Capital 10,000

5. Resultay, Capital 130,000


Cash 130,000
ay

sultay, Capital
Partnership of Escareal, Acosta, Lopez
Statement of Liquidation
December 31, 2019
0.33 0.50
Cash Other Assets Liabilities Escareal, Capital Acosta, Capital
Balances 150,000 1,000,000 250,000 300,000 210,000
Realization of NCA 460,000 (1,000,000) (180,000) (270,000)
Balances 610,000 - 250,000 120,000 (60,000)
Payment of Liabilities (250,000) (250,000)
Balances 360,000 - - 120,000 (60,000)
Additional Losses (40,000) 60,000
Balances 360,000 - - 80,000 -
Payment to Partners (360,000) (80,000)
Balances - - - - -

1. Cash 460,000
Loss on Realization 540,000
Other Assets 1,000,000

2. Escareal, Capital 180,000


Acosta, Capital 270,000
Lopez, Capital 90,000
Loss on Realization 540,000

3. Liabilities 250,000
Cash 250,000

4. Escareal, Capital 40,000


Lopez, Capital 20,000
Acosta, Capital 60,000

5. Escareal, Capital 80,000


Lopez, Capital 280,000
Cash 360,000
pez

0.17
Lopez, Capital
390,000
(90,000)
300,000

300,000
(20,000)
280,000
(280,000)
-

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