Roberto Orcajada and Ryan Morales are partners who share profits and losses equally. The credit balances of their Capital accounts before liquidation are P700,000 and P900,000, respectively. They...

Roberto Orcajada and Ryan Morales are partners who share profits and losses equally. The credit balances of their Capital accounts before liquidation are P700,000 and P900,000, respectively. They decided to liquidate their partnership. They sold all the noncash assets and paid all the partnership’s liabilities, leaving a balance of P1,100,000 in cash. What is the amount of loss or gain in realization? How much cash is distributed to Orcajada?