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2) eBook Statement of Partnership Laudation 400, and in the After the accounts are closed on April 10, pur to liquidating the partnership, the
2) eBook Statement of Partnership Laudation 400, and in the After the accounts are closed on April 10, pur to liquidating the partnership, the capital accounts of Zach forchild, Austin Lowes, and Amber toward are 546,100, $37,100, respectively. Cash and noncash assets total $10,000 and $92,000, respectively, Amounts owed to creditors total $11,200. The partners share income and ratio of 1:1:2. Between April 10 and April 30, the noncash assets are sold for $48,800, the partner with the capital deficiency pays the deficiency to the partnership, and the Sabilities are paid Required: 3. Prepare a statement of partnership liquidation, indicating (a) the sale of assets and division of loss, (b) the payment of Sabilities, ( the receipt of the deficiency. On the appropriate partner), and (d) the distribution of cash Enter any subtractions (balance deficiencies, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a menus sign. If there is no amount arm amount is zero, enter "0" Fairchild, Aires, and Howard Statement of Partnership Liquidatiem For Period April 10-30 Noncash Cash Balances before realuation Sale of assets and divison of Check My Work Liabilities Fairchild, Capital (1/4) Lowes, Capital (1/4) Howard, Capital (2/4) Previous
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