Aken, Prince, and Bird share profits and losses for their APB Partnership in a ratio of 2:3:5. When they decide to liquidate, the balance sheet is as follows:

Liquidation expenses are expected to be negligible. No interest accrues on loans with partners after termination of the business.
\section*{Required}
Prepare a cash distribution plan for the APB Partnership.

Transcribed Image Text:

Cash Assets $ 40,000 Liabilities and Equities Liabilities $ 50,000 Aken. Loan 10,000 Bird, Loan 20,000 Other Assets 200,000 Aken, Capital 55.000 Prince. Capital 75.000 Bird. Capital 50.000 Total Assets $250,000 Total Liabilites and Equities $250,000