The total of the partners' capital accounts were P770,000 before...

The total of the partners' capital accounts were P770,000 before the recognition of partnership asset revaluation in preparation for the withdrawal of a partner whose profit or loss sharing is 20%. He was paid P196,000 by the firm in final settlement for his interest. The remaining partners' capital accounts, excluding their share of the asset revaluation, totaled P630,000 after his withdrawal. 18. The total asset revaluation of the firm agreed upon was______

SM, AB and TR are partners with capital balances of P896,000, P3,120,000 and P1,360,000 respectively, sharing profits and losses in the ratio of 3:2:1. KQ is admitted as a new partner bringing with him expertise and is to invest cash for a 25% interest in the partnership, which includes a credit of P840,000 bonus upon his admission. 16. How much cash should KQ contribute?

CV and LX are partners with profit and loss ratio of 80:20 and capital balances of P700,000 and P350,000 respectively.TM is to be admitted into the partnership by purchasing a 30% interest in the capital, profits and losses for P420,000.Assume that no asset revaluation is to be made. 17. Which of the following is true in the books of the partnership upon admission of TM? 

Partners A, B and C who share profits and losses in the ratio of 2:2:1, respectively decided to liquidate. The condensed statement of financial position immediately prior to the liquidation shows the following: CASH P400,000; Non-CASH Assets P1,600,000; Liabilities P560,000; A, Loan P40,000; A, Capital P180,000; B, Capital P420,000; and C, Capital P800,000. After paying liabilities to partnership creditors, cash of P830,000 is available for distribution to partners. Any capital deficiency is made good by the deficient partner, since all three partners are personally solvent. 19. How much was the loss on realization?