2 pages of P12-31 A

P12-3IA Allocating profits and losses to the partners, accounting for the liquidation of a partnership ABC is a partnership owned by Alders, Byron, and Calvin, who share profits and losses in the ratio of 4. The account balances of the partnership at June 30 follow. ABC Adjusted Trial Balance June 30, 2014 Balance Account Title Debit Credit 33,000 Non-cash Assets 117,000 Notes Payable Alders, Capital 32,000 Byon, Capital 22,000 Calvin, Capital 50,000 Alders. Withdrawals 53,000 Bron, withdrawals 9,000 Calvin, Withdrawals 27,000 Sales Revenue 49,000 Salaries Expense Rent Expense 164,000 74,000 12.000 S 321.000 S 321.000