Luz vi and minda are partners with capital balances

[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 wishes
to withdraw, and it is agreed that she is to take certain furniture items, with second hand value
of P50,000 and a note for the balance of her interest. The furniture items are carried in the
books at P65,000; brand new, however, they would cost P80,000. the value of the note that
Minda would get is:
a. P120,000. c. P145,000
b. P135,000. d. P150,000
[53] . Juan, Pedro, and Pablo are partners who share profits and losses in a 5:3:2 ratio and, on
January 1, 2011, have capital balances of P90,000, P160,000, and
respectively. 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 their
recorded cost of P50,000. For the six-month period ending June 30, 2011, the partnership
realized a net income of P130,000. The partners decided that Pablo should be paid P245,000
for his interest and the remaining partners’ capital accounts should be adjusted for any goodwill
resulting 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 a
note for his interest. The furniture is carried in the books at P65,000, but brand new would cost
P80,000. 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 wishes
to withdraw, and it is agreed that she is to take certain furniture items, with a second-hand value
of P50,000, and a note for the balance of her interest. The furniture items are carried in the
books at P65,000; brand new, however, they would cost P80,000. The value of the note that
Minda would get is:
[56] . The condensed balance sheet of the partnership of Tic, Tac and Toe as
Net assets P 400,000
Tic, capital (50%) P 200,000
Tac, capital (30%) 120,000
Toe, capital (20%) 80,000
Total capital P 400,000
As of said date, Tic retired from the partnership. Per agreement, Tic was paid P225,000 for his
interest and the goodwill implied from the settlement was recorded. After Tic’s retirement, the
par tnership’s “net assets” was:
a. P175,000
b. P200,000
c. P225,000
d. P250,000