Question: Ethel, Elaine, Elinore and Edna are partners sharing profits in to ratio 2:4:6:8, respectively. The balances of their capital accounts are as follows: Ethel - P40,000; Elaine - P760,000; Elinore - P760,000; and Edna - P280,000. The partners decided to liquidate, and they accordingly converted the noncash assets into P699,000 cash. After paying the liabilities amounting to P90,000, they have P666,000 cash to divide. Assume that a debit balance of any partner's capital is uncollectible. Instructions: Compute for the book value of the non-cash assets and loss from realization and determine the share of each partner in the loss from realization.