# Luz vi and minda are partners with capital balances

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[52].Luz, Vi, and Minda are partners with capital balances, as of December 31, 2011, of P300,000,P300,000 and P200,000, respectively, and who share profits and losses equally. Minda wishesto withdraw, and it is agreed that she is to take certain furniture items, with second hand valueof P50,000 and a note for the balance of her interest. The furniture items are carried in thebooks at P65,000; brand new, however, they would cost P80,000. the value of the note thatMinda would get is:a.P120,000.c. P145,000b.P135,000.d. P150,000
[53].Juan, Pedro, and Pablo are partners who share profits and losses in a 5:3:2 ratio and, onJanuary1,2011,havecapitalbalancesofP90,000,P160,000,andrespectively. Pablo withdrew from the partnership on July 1, 2011 and the partners agreed that,as of this date, certain inventory items would have to be revalued at P70,000 from theirrecorded cost of P50,000. For the six-month period ending June 30, 2011, the partnershiprealized a net income of P130,000. The partners decided that Pablo should be paid P245,000for his interest and the remaining partners’ capital accounts should be adjusted for any goodwillresulting from the settlement. The payment to Pablo included goodwill of:P200,000,
[54].Paco, Quin, and Romy are partners with capital balances on June 30, 2011 of P300,000,P300,000 and P200,000, respectively, and sharing profits and losses equally. Romy is to retire,and it is agreed that he is to take certain furniture (with second-hand value of P50,000) and anote for his interest. The furniture is carried in the books at P65,000, but brand new would costP80,000. Romy’s acquisition of the furniture would result in:
[55].Luz, Vi, and Minda are partners with capital balances, as of December 31, 2011, of P300,000,P300,000, and P200,000, respectively, and who share profits and losses equally. Minda wishesto withdraw, and it is agreed that she is to take certain furniture items, with a second-hand valueof P50,000, and a note for the balance of her interest. The furniture items are carried in thebooks at P65,000; brand new, however, they would cost P80,000. The value of the note thatMinda would get is:
[56].The condensed balance sheet of the partnership of Tic, Tac and Toe asNet assetsP 400,000Tic, capital (50%)P 200,000Tac, capital (30%)120,000Toe, capital (20%)80,000Total capitalP 400,000As of said date, Tic retired from the partnership. Per agreement, Tic was paid P225,000 for hisinterest and the goodwill implied from the settlement was recorded. After Tic’s retirement, thepartnership’s “net assets” was:a.P175,000b.P200,000c.P225,000d.P250,000

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