54 My Home CengageNOWv2 | Onlin X *Course Hero + X O A https://v2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Ch 12-2 Practice Exercises eBook Show Me How Calculator Print Item 1. PE. 12-01.ALGO Liquidating Partnerships ? 2. PE. 12-02.ALGO Prior to liquidating their partnership, Ellis and Montgomery had capital accounts of $69,000 and $113,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $176,000. The partnership had $9,000 of 3. PE. 12-03.ALGO liabilities. Ellis and Montgomery share income and losses equally. Determine the amount received by Ellis as a final distribution from liquidation of the partnership. 4. PE. 12-4.ALGO 5. PE. 12-05.ALGO 6. PE. 12-06.ALGO Progress: 5/6 items Check My Work 2 more Check My Work uses remaining. Previous Next Type here to search O Fi a 8:51 PM 3/27/2020