Perdales, Ceballus and Bandonell Partnership

Cash Priority Program

October 31, 2022
Cash Priority Payments to
Perdales, Cap. Ceballus, Cap. Bandonell, Cap. Perdales Ceballus Bandonell
Capital Balances 45,000.00 30,000.00 15,000.00
Add/Less: Loan Balances (-to), (+from) - - 5,000.00 10,000.00
Partners Total Interest 45,000.00 25,000.00 25,000.00
Divided by P&L ratio 30% 50% 20% *no p&l ratio so use the cap. Contribution ratio
Loss absortion balances priority 150,000.00 50,000.00 125,000.00 Question #1
Priority I - To perdales - 25,000.00 - - 7,500.00
125,000.00 50,000.00 125,000.00
Priority II - To Perdales and Bandonell - 75,000.00 - - 75,000.00 22,500.00 15,000.00
50,000.00 50,000.00 50,000.00 30,000.00 - 15,000.00
Priority III - Amount in excess of
P45,000 based on P&L 30% 50% 20%

Perdales, Ceballus and Bandonell Partnership

Statement of Liquidation
November to December 2022
Journal Entries
60% 40% Cash 50,000.00
Cash Non-cash Loan to Ceballus Liabilities Loans from Bandonel Perdales, Capital Ceballus, Capital Bandonell Capital Non-cash Assets 50,000.00
Balances 15,000.00 130,000.00 5,000.00 50,000.00 10,000.00 45,000.00 30,000.00 15,000.00 To record Sale of non-cash assets
June- Realization of Assets 50,000.00 - 50,000.00 - - - - - -
Balances 65,000.00 80,000.00 5,000.00 50,000.00 10,000.00 45,000.00 30,000.00 15,000.00 Liabilities 50,000.00
Payment of Liabilities - 50,000.00 - - - 50,000.00 - Loans from Bandonell 3,000.00
Payment to partners Priority I - 7,500.00 - - - - - 7,500.00 Perdales, Capital 12,000.00
Payment to partners Priority II - 7,500.00 - - - - 3,000.00 - 4,500.00 - - Cash 65,000.00
Balances - 80,000.00 5,000.00 - 7,000.00 33,000.00 30,000.00 15,000.00 To record full payment to outside creditors, and partial payment to inside creditors and partners capital
- -

Perdales, Ceballus and Bandonell Partnership

Statement of Liquidation
November to December 2022

60% 40%
Cash Non-cash Loan to Ceballus Liabilities Loans from Bandonel Perdales, Capital Ceballus, Capital Bandonell Capital
Balances 15,000.00 130,000.00 5,000.00 50,000.00 10,000.00 45,000.00 30,000.00 15,000.00
June- Realization of Assets 42,500.00 - 42,500.00 - - - - - - Cash 42,500.00
Balances 57,500.00 87,500.00 5,000.00 50,000.00 10,000.00 45,000.00 30,000.00 15,000.00 Other Assets 42,500.00
Payment of Liabilities - 50,000.00 - - - 50,000.00 - - - - To record sale of non-cash assets
Balances 7,500.00 87,500.00 5,000.00 - 10,000.00 45,000.00 30,000.00 15,000.00
Payment to partners Priority I - 7,500.00 - - - - - 7,500.00 - - Liabilities 50,000.00
Balances - 87,500.00 5,000.00 - 10,000.00 37,500.00 30,000.00 15,000.00 Cash 50,000.00
To record payment to outside creditors

Perdales, Capital 7,500.00

Cash 7,500.00
Paraiso and Ligarde Partnership To record payment to partners based on 230,000.00
Schedule of Safe Payments
June 2022
60% 40%
Paraiso, Capital Ligeralde, Capital
Cash Balance before Distribution 201,000.00 159,000.00
Loan Balances (-To), (+From) - -
Partners Total Interests 201,000.00 159,000.00
Restricted Interest- Possible Loss P330,000 - 198,000.00 - 132,000.00
Balances 3,000.00 27,000.00

Paraiso and Ligarde Partnership

Schedule of Safe Payments
July 2022
60% 40%
Paraiso, Capital Ligeralde, Capital
Cash Balance before Distribution 210,000.00 145,000.00
Loan Balances (-To), (+From) - -
Partners Total Interests 210,000.00 145,000.00
Restricted Interest- Possible Loss P230,000 - 138,000.00 - 92,000.00
Balances 72,000.00 53,000.00
 Paraiso and Ligarde Partnership
Statement of Liquidation
June - August 2022

60% 40%
Cash Other Assets Liabilities Paraiso, Capital Ligeralde, Capital Journal Entries
Balances 50,000.00 550,000.00 200,000.00 225,000.00 175,000.00
June- Realization of Assets 180,000.00 - 220,000.00 - - 24,000.00 - 16,000.00 Cash 180,000.00
Balances 230,000.00 330,000.00 200,000.00 201,000.00 159,000.00 Loss on Realization of Assets 40,000.00
June-Payment of Liabilities - 200,000.00 - - 200,000.00 - - Other Assets 220,000.00
Balances 30,000.00 330,000.00 - 201,000.00 159,000.00 To record sale of non-cash assets
June-Installment payment to partners - 20,000.00 - - - - 20,000.00
Balances 10,000.00 330,000.00 - 201,000.00 139,000.00 Paraiso, Capital 24,000.00
Jul-Realization of Assets 120,000.00 - 100,000.00 12,000.00 8,000.00 Ligeralde, Capital 16,000.00
Balances 130,000.00 230,000.00 213,000.00 147,000.00 Loss on Realization of Assets 40,000.00
Payment of Liquidation expense - 5,000.00 - - 3,000.00 - 2,000.00 To record the distribution of loss on realization of assets
Balances 125,000.00 230,000.00 210,000.00 145,000.00
Jul-lacking payment in 1st installment t - 10,000.00 - 3,000.00 - 7,000.00 Liabilities 200,000.00
Jul-2nd installment to partners - 115,000.00 - 5,363,600.00 1,472,000.00 Cash 200,000.00
Balances - 230,000.00 5,570,600.00 1,610,000.00 To record payment of liabilities
Aug-Realization of Assets 225,000.00 - 230,000.00 - 3,000.00 - 2,000.00
Balances 225,000.00 - 5,567,600.00 1,608,000.00 Ligeralde, Capital 20,000.00
Full Payment to partners - 225,000.00 - 137,760.00 - 87,240.00 Cash 20,000.00
Balance - - - To record the 1st intallment payment to partners
60% 40%
Cash Other Assets Liabilities Paraiso, Capital Ligeralde, Capital Cash 120,000.00
Balances 310,000.00 - 990,000.00 - 200,000.00 225,000.00 175,000.00 Other Assets 100,000.00
June- Realization of Assets 440,000.00 - 1,760,000.00 - 400,000.00 - - Gain on realization of assets 20,000.00
Balances 750,000.00 - 2,750,000.00 - 600,000.00 225,000.00 175,000.00 To record sale of non-cash assets
June-Payment of Liabilities - 200,000.00 - - 200,000.00 - -
Balances 550,000.00 - 2,750,000.00 - 800,000.00 225,000.00 175,000.00 Gain on realization of assets 20,000.00
June-Installment payment to partners - 20,000.00 - - - - 20,000.00 Paraiso, Capital 12,000.00
Balances 530,000.00 - 2,750,000.00 - 800,000.00 225,000.00 155,000.00 Ligeralde, Capital 8,000.00
Jul-Realization of Assets 120,000.00 - 100,000.00 138,000.00 92,000.00 To record the distribution of gains on sale of non-cash assets
Balances 650,000.00 - 2,850,000.00 363,000.00 247,000.00
Payment of Liquidation expense - 5,000.00 - - 3,000.00 - 2,000.00 Paraiso, Capital 3,000.00
Balances 645,000.00 - 2,850,000.00 360,000.00 245,000.00 Ligeralde, Capital 2,000.00
Jul-lacking payment in 1st installment t - 220,000.00 - 3,000.00 - 7,000.00 Cash 5,000.00
Jul-2nd installment to partners - 325,000.00 - - - To record payment of liquidation expense
Balances 100,000.00 - 2,850,000.00 357,000.00 238,000.00
Aug-Realization of Assets 225,000.00 - 230,000.00 - 3,000.00 - 2,000.00 Paraiso, Capital 69,240.00
Balances 325,000.00 - 3,080,000.00 354,000.00 236,000.00 Ligeralde, Capital 55,760.00
Full Payment to partners 225,000.00 137,760.00 87,240.00 Cash 125,000.00
Balance 450,000.00 275,520.00 174,480.00 To record 2nd installment payment to partners
60% 40%
Cash Other Assets Liabilities Paraiso, Capital Ligeralde, Capital Cash 225,000.00
Balances 570,000.00 - 2,530,000.00 - 600,000.00 225,000.00 175,000.00 Loss on realization of assets 5,000.00
June- Realization of Assets 700,000.00 - 3,300,000.00 - 800,000.00 - - Other Assets 230,000.00
Balances ### - 5,830,000.00 - 1,400,000.00 225,000.00 175,000.00
June-Payment of Liabilities - 200,000.00 - - 200,000.00 - - Paraiso, Capital 3,000.00
Balances ### - 5,830,000.00 - 1,600,000.00 225,000.00 175,000.00 Ligeralde, Capital 2,000.00
June-Installment payment to partners - 20,000.00 - - - - 20,000.00 Loss on realization of assets 5,000.00
Balances ### - 5,830,000.00 - 1,600,000.00 225,000.00 155,000.00 To record the distribution of loss on sale of non-cash assets
Jul-Realization of Assets 120,000.00 - 100,000.00 - -
Balances ### - 5,930,000.00 225,000.00 155,000.00 Paraiso, Capital 137,760.00
Payment of Liquidation expense - 5,000.00 - - 3,000.00 - 2,000.00 Ligeralde, Capital 87,240.00
Balances ### - 5,930,000.00 222,000.00 153,000.00 Cash 225,000.00
Jul-lacking payment in 1st installment t - 430,000.00 - 3,000.00 - 7,000.00 To record full payment of partners capital.
Jul-2nd installment to partners - 535,000.00 - - -
Balances 200,000.00 - 5,930,000.00 219,000.00 146,000.00
Aug-Realization of Assets 225,000.00 - 230,000.00 - 3,000.00 - 2,000.00
Balances 425,000.00 - 6,160,000.00 216,000.00 144,000.00