#17

The partners decide to liquidate the partnership. Forty percent of the other assets are sold for S200,000. Prepare a proposed schedule of liquidation at this point in time. 17. The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively: Miller, capital Watson, capital2 69,000 20,000 $200,000 Total liabilities and capital$200,000 For how much money must the other assets be sold so that each partner receives some amount Other assets. .150,000 Total assets of cash in a liquidation