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Ali, Basel and Ziad are sharing income and loss in a 4:32 rabo respectively and decided to liquidate their partnership Poor to the final distribution
Ali, Basel and Ziad are sharing income and loss in a 4:32 rabo respectively and decided to liquidate their partnership Poor to the final distribution of canh the partners, Ali has a capital balance of $(30,000), Basel has a capital balance of $72,000, and Ziad has a capital balance of $108,000 Also, cash balance is $150,000 All is NOT able to pay the amount he owes the partnership. Which of the following two journal entries are right to record this liquidation case? COA Basel Capital Ziad Capital All Capital Basel capital 18,000 12,000 30,000 54,000 Ziad capital Cash OB Basel Capital 96,000 150,000 12,000 Ziad Capital 18,000 All Capital 30,000 Basel capital 54,000 Ziad capital 96,000 Cash 150,000 OC Basel Capital 18,000 Ziad Capital 12,000 30,000 All Capital 96.000 Basel capital TALL
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