16-8 Cash Distribution Plan

Adams, Peters, and Blake 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.

Required

Prepare a cash distribution plan for the APB Partnership.

Thats all I have for the question it class is Advance Financial Accounting

Assets Liabilities and Equities

Cash $40,000 Liabilities $50,000

Adams, Loan 10,000 Adams, Capital 55,000

Other Assets 200,000 Peters, Capital 75,000

_______ Blakes, Capital 70,000

Total Assets 250,000 Total Labilities & Equities 250,000

______ _______