4.Liquidation (Liquidacin) After the accounts balance are closed on April 10, 2010, prior the liquidation the partnership, the capital accounts of Villanueva, Trovato and Snchez are $ 56,800, $ 12,400 and $ 35,600 respectively. Cash and non cash assets total $ 18,900 and $142,400 respectively. Amounts owed to creditors total $ 56,500. The partners share income an losses in the ratio 2:1:1. In April 20, the non cash assets are sold for $ 80,000. Cash Non Cash Liabilities Villanueva Trovato Snchez Assets 50% 25% 25% Balance before 18,900 142,400 56,500 56,800 12,400 35,600 ralization Sale of assets and divisin of los Balance after realization Payments of liabilities Balance after payment of liabilities Receipts of deficiency Balance Cash Distributed to partner Final Balances