112-00 The Bice Company at December 31 has cal $15,000, noncash assets $110,000, llabilities 160,000, and the following capital balances Birk $40,000 and Cey $25.000. The firm is liquidated, and $90,000 in cach is received for the moncash assets. Birk and Cey income ruties are 60% and 40%, respectisely Instructions Prepare a cash distribution schedule. 012-98 Duta foar The Bice Company partnership are presented in 112.88. frestructions Prepare the entries to record (a) The sale of chels (b) The allocation of the pain or loss en liquidation to the partners (c) Payment of creditors. ol) Distribution of cash to the partners with $12-101 Prier to the distribution of cash to the partners, the accounts in the RLN Com pany are: Cash $45,000, Reimer, Capital (Cu) $27.000, Lave, Capital (CE) $24,000, and Nuthil The Than