PARTNERSHIP QUIZ Jan 30, 2017

1. Enumerate the 3 stages before a partnership be terminated and explain each

stage.

2. Cite at least 3 causes of dissolution under Art. 1830 and Art. 1831.

3. When a firm is dissolved, does this mean that the contracts and obligations
previously entered into by the partnership whether as a creditor or debtor
automatically cease? Why?

4. A, B and C are partners. C died causing dissolution of the partnership. At the

time of dissolution, the
records of the partnership shows the following data:
Assets P 1,250,000
Payables to trade creditors 250,000
Payables to A, partner for advances
made for the company 150,000
Initial contribution of the partners is as follows:
A = P250,000 B = P150,000 P200,000

In their articles of partnership, partners agreed to share profits, losses

equally.
Compute how much each partner will receive after dissolution.
PARTNERSHIP QUIZ Jan 30, 2017

1. Enumerate the 3 stages before a partnership be terminated and explain each

stage.

2. Cite at least 3 causes of dissolution under Art. 1830 and Art. 1831.

3. When a firm is dissolved, does this mean that the contracts and obligations
previously entered into by the partnership whether as a creditor or debtor
automatically cease? Why?

4. A, B and C are partners. C died causing dissolution of the partnership. At the

time of dissolution, the
records of the partnership shows the following data:
Assets P 1,250,000
Payables to trade creditors 250,000
Payables to A, partner for advances
made for the company 150,000
Initial contribution of the partners is as follows:
A = P250,000 B = P150,000 P200,000

In their articles of partnership, partners agreed to share profits, losses

equally.
Compute how much each partner will receive after dissolution.