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amounts Ahmad, Khaled and Ali are three partners in partnerships, divided profit and loss 1-22 respectively, on 31/12/2018 they agrees to liquidate the partnerships on
amounts Ahmad, Khaled and Ali are three partners in partnerships, divided profit and loss 1-22 respectively, on 31/12/2018 they agrees to liquidate the partnerships on the same dates the Balance Sheet as follows Assets amount Liabilities &Capital cash 10,000 Accounts payable 20,000 Non cash assets 45,000 Ahmad capital 11,000 Khaled capital 8,500 Ali capital 15.500 total 55,000 total 55.000 Others information:- 1- All non-cash assets are sold cash for $30,000 2-Liquidation expenses are paid for cash $10,000 3-Khaled are insolvent partners 4- All liabilities are paid cash Instructions: prepare the liquidation statements
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