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16 Al, Basel and Ziad are sharing income and loss in a 432 rato respectively and decided to liquidate their partnership Prior to the final
16 Al, Basel and Ziad are sharing income and loss in a 432 rato respectively and decided to liquidate their partnership Prior to the final datibution of cash to the partners, Al has a cap balance of $20.000), Basel has a capital balance of $48.000, and Ziad has a capital balance of $72.000. Also, cash balance is $100,000 All is NOT able to pay the amount he owes the partnership Which of the following two journal entries are right to record this liquidation ? CA Basel Capital Ziad Capital 12,000 8.000 All Capital 20,000 Basel capital Ziad capital Cath 100.000 On est Capital ad Capital 20.000 100,000 25.000 29.000 145.00 All Capital Cash O al Capital led Capital All Caphal at spital Cash OFM Capital ad Capital Basal capital 2 capital Cant 36,000 64,000 10,000 38,000 42,006 12,000 8.000 44,000 50.000 6.000 $2.000 54.000 $4,000 N CE
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