REVIEW QUESTIONS1. Define liquidation.2.Differentiate dissolution from liquidation. 3.What does the term "realization" mean? "capital deficiency"? 4.What is the order of preference in the liquidation of a partnership?5. Explain the "right of offset" as applied in the liquidation of a partnership. 6.Differentiate lump-sum method from installment method of liquidation. 7.List the pro-forma entries used in recording the steps in liquidation.8. State the procedures in lump-sum liquidation. 9.What is the basis for distributing gain or loss on realization?10. In case of a partner's capital deficiency, what is the order of priority to be followed to eliminate it? 11.Who is preferred as to partnership assets ?as to the partner's separate assets?12 . State the procedures in installment liquidation. 13.Differentiate restricted from free interests.14.What is a cash priority program? How does one go about preparing one?15.What is a loss absorption balance? What does it indicate? 16. Is there any situation wherein the profit and loss ratio may be used as the basis of cash payments to partners? Explain.
1. REVIEW QUESTIONS1. Define liquidation.2.Differentiate dissolution from liquidation. 3.What does the term "realization" mean? "capital deficiency"? 4.What is the order of preference in the liquidation of a partnership?5. Explain the "right of offset" as applied in the liquidation of a partnership. 6.Differentiate lump-sum method from installment method of liquidation. 7.List the pro-forma entries used in recording the steps in liquidation.8. State the procedures in lump-sum liquidation. 9.What is the basis for distributing gain or loss on realization?10. In case of a partner's capital deficiency, what is the order of priority to be followed to eliminate it? 11.Who is preferred as to partnership assets ?as to the partner's separate assets?12 . State the procedures in installment liquidation. 13.Differentiate restricted from free interests.14.What is a cash priority program? How does one go about preparing one?15.What is a loss absorption balance? What does it indicate? 16. Is there any situation wherein the profit and loss ratio may be used as the basis of cash payments to partners? Explain.
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2. Problem #2 Lump-Sum Liquidation with Loss on Realization After several years of operations, the partnership of Concepcion, Macabata and Pedroso is to be liquidated. After making closing entries on March 31, 2011 the following accounts remained open: Credit Debit 150,000 2,600,000 Account Title Cash Non-cash Assets Liabilities Concepcion, Capital Macabata, Capital Pedroso, Capital 750,000 400,000 600,000 1,000,000 The non-cash assets are sold for P2,150,000. Profits and losses are shared equally. Required: Prepare a statement of partnership liquidation and the entries to record the following: 1. Sale of all non-cash assets. 2. Distribution of loss on realization to the partners. 3. Payment of the liabilities. 4. Distribution of cash to the partners.
Answer:
Live in Laguna hills of symmetry the
Step-by-step explanation:
Live in Laguna hills of symmetry
3. what is liquidation of a partnership
Answer:
A partnership liquidation happens where the partners have decided that the partnership has no viable future or purpose, and a decision may be made to cease trading and wind up the business.
4. 2.In case of liquidation of Partnership, what will be the priority of payment?
Answer:
is a gravitty af the earth why becuase is rock found the mars i say is a monkey learn to eat banana and an elien landed on the earth
5. pa help po pleaaseee
Answer:
nasan po yung pic
Explanation:
or yunv kailangan sagutan
6. When a partner withdraws or retires from the partnership, will the partnership be automatically liquidated? Explain.
Answer:
A partnership does not necessarily end when a partner exits. The remaining partners may continue with the partnership. Therefore, your partnership agreement covers what happens when a partner wants to leave, becomes incapacitated, or dies.
7. can heart problem cause lump problem yes or no why
Answer:
Yes
Explanation:
because a damaged heart can't pump blood that effectively to the lungs out of the body; blood backs up raising pressure in the veins of your lungs and this pushes fluids into your air sacs making it harder to breath.
8. Cite specific problems faced by a partnership but not by a corporation.
1. Different management styles.2. Personal habits.3. Financial problems and equity.4. Setting boundaries.
9. : Write "T" if the statement is correct and "F" if incorrect.______1. There can be partnership dissolution without liquidation but no liquidation can take place without first having the partnership dissolved.
Answer:
for me the answer is true
10. Total partners' equity of a partnership is equal to the sum of all partners' capital account balances.
The function of the Partners' Capital Statement is to explain the changes in partners' capital account balances during a period.
11. The name given to the collection of the lump sum of chemical reactions performed by an organism to survive.
This is what we call METABOLISM or the total chemical reactions that occur in an organism to survive. These reactions are natural process. Without these occurring, no organisms can even last to survive the environment. For example, a tree becomes taller and grows bigger in size because of the reactions taken place upon absorbing heat from the sun, water beneath the earth and air around it. Humans start to grow, build muscles and survive because of the reactions in his body after absorbing food, water, air, vitamins and minerals.
12. Which statement below is false concerning liquidation of a partnership?
A.
all assets can be sold at fair value in a single transaction to a competition to continue the business
#hope it's help
13. A, B and C are partners in a business being liquidated. The partnership has cash of 22,000, noncash assets with a book value of 264,000
Answer:
Subtract: 5/6 - 2/6 = 5 - 2/6 = 3/6 = 3 · 1/3 · 2 = 1/2
For adding, subtracting, and comparing fractions, it is suitable to adjust both fractions to a common (equal, identical) denominator. The common denominator you can calculate as the least common multiple of both denominators - LCM(6, 6) = 6. In practice, it is enough to find the common denominator (not necessarily the lowest) by multiplying the denominators: 6 × 6 = 36. In the following intermediate step, cancel by a common factor of 3 gives 1/2.
In other words - five sixths minus two sixths = one half.Subtract: 7/10 - 4/10 = 7 - 4/10 = 3/10
For adding, subtracting, and comparing fractions, it is suitable to adjust both fractions to a common (equal, identical) denominator. The common denominator you can calculate as the least common multiple of both denominators - LCM(10, 10) = 10. In practice, it is enough to find the common denominator (not necessarily the lowest) by multiplying the denominators: 10 × 10 = 100. In the following intermediate step, the fraction result cannot be further simplified by canceling.
In other words - seven tenths minus four tenths = three tenths.Compare: the result of step No. 1 vs the result of step No. 2 = 1/2 vs 3/10 = 1 · 5/2 · 5 vs 3/10 = 5/10 vs 3/10 = 5 vs 3 = NoSubtract: 6/7 - 2/3 = 6 · 3/7 · 3 - 2 · 7/3 · 7 = 18/21 - 14/21 = 18 - 14/21 = 4/21
For adding, subtracting, and comparing fractions, it is suitable to adjust both fractions to a common (equal, identical) denominator. The common denominator you can calculate as the least common multiple of both denominators - LCM(7, 3) = 21. In practice, it is enough to find the common denominator (not necessarily the lowest) by multiplying the denominators: 7 × 3 = 21. In the following intermediate step, the fraction result cannot be further simplified by canceling.
In other words - six sevenths minus two thirds = four twenty-firsts.Add: 5/8 + 2/3 = 5 · 3/8 · 3 + 2 · 8/3 · 8 = 15/24 + 16/24 = 15 + 16/24 = 31/24
For adding, subtracting, and comparing fractions, it is suitable to adjust both fractions to a common (equal, identical) denominator. The common denominator you can calculate as the least common multiple of both denominators - LCM(8, 3) = 24. In practice, it is enough to find the common denominator (not necessarily the lowest) by multiplying the denominators: 8 × 3 = 24. In the following intermediate step, the fraction result cannot be further simplified by canceling.
In other words - five eighths plus two thirds = thirty-one twenty-fourths.Compare: (the result of step No. 5) = (31/24)Add: 34 + 7/12 = 34/1 + 7/12 = 34 · 12/1 · 12 + 7/12 = 408/12 + 7/12 = 408 + 7/12 = 415/12
For adding, subtracting, and comparing fractions, it is suitable to adjust both fractions to a common (equal, identical) denominator. The common denominator you can calculate as the least common multiple of both denominators - LCM(1, 12) = 12. In practice, it is enough to find the common denominator (not necessarily the lowest) by multiplying the denominators: 1 × 12 = 12. In the following intermediate step, the fraction result cannot be further simplified by canceling.
In other words - thirty-four plus seven twelfths = four hundred fifteen twelfths.Compare: (the result of step No. 7) = (415/12)
Step-by-step explanation:
1.6+5×3−7=26
2. \: 8 + 12 - 7 = 132.8+12−7=13
3. \: 14 - 7 + 18 \div 3 = 133.14−7+18÷3=13
4. \: 7 + 15 - 6 \times 2 = 104.7+15−6×2=10
5. \: 2 \times 2 + 5 = 95.2×2+5=9
14. Which of the following describes a partnership installment liquidation?
Answer:
Installment liquidations involve the distribution of cash to partners before complete liquidation of the assets occurs. The accountant must be especially cautious when distributing available cash, because future events may change the amounts to be paid to each partner.
For More Learning:https://brainly.ph/question/463880515. Partnershipliquidation lump sum manual solution baysa
Answer:
Ano po pala to?
Explanation:
Bakit lump sum?
Answer:
Ayusin nyo po ang questions nyo..Explanation:
PAKIAYOS PO16. If the partnership is liquidated, how is the final allocation of business assets made to the partners
Answer:
it should be according to the final capital account balances of the partners
Explanation:
17. Which of the following is not part of the partnership liquidation process?
Explanation:
asan po pic? para makita
Answer:
asan po picture niyan kung alam ko po sagutan ko
18. Which of the following is an assumption an accountant would make when assisting with a partnership installment liquidation?
ANSWER : B.LIQUIDATION OF NON CASH ASSETS
19. If cash payments to partners of a partnership in liquidation are delayed until all non-cash assets have been realized, any cash remaining after all partnership creditors have been paid is distributed:
Answer:
Those owing to partners other than capital & profit
20. Which of the following statements is true concerning the accounting that is made for a partnership going through liquidation?
Answer:
"Magandang araw po sainyo!"
Explanation:
"Nasaan po ang tinutukoy niyo?"
"May litrato po ba kayo?"
"Icomment niyo nalang po sa baba;)."
"Baka matulungan kopo kayo;)."
"Salamat po sa points;)."
"Pabrainlest narin po sa taas;)."
"At paheart po ng mga answers niya;)."
"Pangako po gagawin korin po sainyo ito;)."
"Paf0ll0w narin po ako sa kanya;)."
"Tinutulungan kolang po siya;)."
"Maraming salamat po!" ❤❤❤
21. In partnership liquidations, what are safe payments
Answer:
In partnership liquidations, what are safe payments? The amounts of distributions that can be made to the partners, after all creditors have been paid in full. The amounts of distributions that can be made to the partners with assurance that such amounts will not have to be returned to the partnership.
Explanation:
Base on my research this is the right answer and pls make me brainliest and stay safe guys tnk u
Answer:
Partnership liquidation is the process of closing the partnership and distributing its assets. Many times partners choose to dissolve and liquidate their partnerships to start new ventures. Other times, partnerships go bankrupt and are forced to liquidate in order to pay off their creditors.Explanation:
That's the answer 100%pili kanalang jan sa dalawang yanhope it's helppa brainliest and follow thanksstay safe22. The following is the priority sequence in which liquidation proceeds will be distributed for a partnership
Answer:
partnership liabilities, partnership loans, partnership capital balances.
23. in preparing liquid ingredients how to remove the lumps in milk? A. By stirring B. by beating C. By modling D. By mixing
Answer:
D. by mixingExplanation:
#SanaPoMakatulong!
#CarryOnLearning!
#DanayaxxxAquil!
Answer:
d po mixing yun lang po ang nalalaman ko
thank you
24. example of partnership problems
Answer:
1 Different management styles
2 Personal habits
3 Financial problems and equity
4 Setting boundaries
5 Commitment levels
6 Disparities in skills and roles
25. which of these can make a solid substance dissolve faster in liquid (a.use larger lumps of solid in a small volume of liquid) (b.cool the solid-liquid mixture) (c.stir the mixture regularly) (d.use a little solid at a time to a large volume of liquid)
Answer:
d. use a little solid at a time to a large volume of liquid
26. did you create lumps while mixing the dry ingredients to the liquid ingredients?
Answer:
ydxucfc gcyff tf TV tdd, td ig tc
Step-by-step explanation:
chicken yyc have a having
27. The carrying amount of a noninterest-bearing note payable due in lump sum will decrease as time goes by
Answer:
[tex]dikopo \: alam[/tex]
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28. how can you avoid lumps when you mix a roux and a liquid base together?
When combining the roux with liquids, it is important that the liquids are not too hot. It is better if they are warm to moderately hot as this helps to avoid lumps. Gradually add the liquid a little at a time, stirring constantly.
29. Stirring dry ingredients is done if _______ are present. a. liquid b. large particles c. dirt d. lumps
Answer:
b large particles
Explanation:
pakitama nalang po ako Kung mali
30. A parent on the day the child is born wishes to determine what lump sum would have to be paid into an account bearing interest at 5% compounded annually, in order to withdraw P20,000 each on the child’s 18th, 19th, 20th and 21st birthdays. How much is the lump sum amount?
1000
is the best answer
