ABC firm divides the profit or loss in a 3:2:1 ratio. On August 14, 2012 the firm was liquidated and all accounts (Estimated) were closed with the following balance

Cash IDR 5,000,000

Accounts receivable 15,000,000

Merchandise inventory 18,000,000

Equipment 35,000,000

Accumulated depreciation (8,000,000)

= 65.000.000

Liabilities and Equity:

Notes paid IDR 15,000,000

Accounts payable 16,000,000

Capital Mr, A 15,000,000

Mr B's Capital 17,500,000

Capital Mr C 1,500,000

65,000,000

The liquidation process takes place from August 15, 2012 to August 31, 2012 with transactions

As follows:

1. Non-cash assets sell for cash Rp42,000,000

2. Profit/loss divided by a ratio of 3:2:1

3. All partners are responsible for all their obligations to the Firm