Practical Partnership and corporation QUIZ 3 Parcor finals PDF

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Practical Partnership and corporation QUIZ 3 Parcor finals...

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25,000 x P24 = 600,000 x 25% = 150,000 At least 25 % of total authorized share capital has been subscribed and at least 25% of the total subscriptions have been paid .

4,000 x P110 = 440,000 x 25% = 110,000

 

Accounting equation A = L + OE PL ratio divided equally

Assets Cash 300,000

payable to tan 200,000

NCA ? =1,150,000

Sanchez capital 750,000

. Squeeze 300k – 1,450k

Tan capital

Total assets 1,450,000

total L + OE 1,450,000

500,000

750k + 700k = 1,450,000 -300000 = 1150000 NCA / 2 = 575000

Sanchez 750k – 575k = 175k Tan

700k – 575k = 125k



Accounting Equation A = L+ OE

L + OE 50k + 60k + 20k + 54k + 90k = 274k

Assets cash 40k – 274k = NCA 234k

 

PL equal First cash distribution

140,000 – 90,000 – 30,000 = 20,000 / 3 = 6,667

The cash left for 1st cash distribution is already given, meaning liquidation expenses already reduced the cash amount, and hence it is ignored.

20,000 x P10 = 200,000 – 600,000 = 400,000 premium

A = L + OE 140 + 100 + 140 = 380 – 580 = 200k liabilities 200k – 20k = 180k liabilities - 580k = 400k x 30% interest of Freddie = 120k – 140k = 20k Freddie

A = L + OE 50k + 60k + 20k + 44k + 90k = 264k total credit - 40k cash = 224k NCA 44k x .40 = 17.6k + 50,000 = 67,6k – 55.2k expected settlement of A = 124,000 / 40% = 31k 31k – 224k NCA = 193,000 sale of NCA

Find the cash only total assets 800,000 + 7,400,000 + 4,200,000 = 12,400,000 - total liabilities 4,400,000 = 8,000,00...