Federico alberto sofronio and teodoro are partners in

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50. Federico, Alberto, Sofronio and Teodoro are partners in FAST Motorparts Company, a dealer of car spare parts. . Federico, Alberto and Sofronio invested P500,0000.00, P200,000.00 and P300,000.00, respectively. Teodoro is an industrial partner who manages the partnership. The partners have stipulatedthat Federico shall be exempt from liability to third persons. At the end of three years, the assets of the partnership have dwindled to P220,000.00 while its liabilities to third persons have a balance of P340,000.00. How much ultimately will be the share of each partner after payment to third persons and the settlement among the partners?a. P30,000.00 for each partnerb. Federico, P60,000.00; Alberto P24,000.00 Sofronio, P36,000.00; and Teodoro, none.c. Federico, none; Alberto P48,000.00; Sofronio, P72,000.00; and Teodoro, none.d. Federico, none; Alberto, Sofronio and Teodoro, P40,000.00 each.
51. John Solanda and Sons is a partnership composed of three partners, namely: Robert Solanda, Simon Solanda, and Theodore Solanda. The partners are the sons of John Solanda who has retired from business but who suggested that they include his name in the firm to give them an advantage since he is well-known in the business community.
I. John Solanda shall have all the rights of a general partnerII. John Solanda shall have all the liabilities of a general partnerBased on the following facts:
52. The following partnership contracts were presented to you for evaluation: I. A partnership engaged in the sale of office supplies with a capital of P100,000.00 into: cash, P30,000.00, office supplies for sale; P50,000.00 and office equipment, P20,000.00. The agreement is in a private instrument. II. A partnership engaged in the lease of office spaces with a capital of P700,000.00 broken down into: land, P100,000.00; building P500,000.00; cash, P80,000.00; and office equipment, P20,000.00. The agreement is in a public instrument attached to which is the inventory of the land and the building signed by partners. The agreement is not recorded with the Securities and Exchange Commission. III. A partnership engaged in the trading of computer whose name is “Lamont Enterprises, Ltd”. It has a total capital of P500,000.00 broken down into P100,000.00 cash and computers worth P400,000.00, contributed by both general and limited partners. The agreement was subscribed and sworn by all the partners before a notary public but not recorded with the Securities and Exchange Commission. Based on the foregoing:

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