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Angry, Apple, and Tree were partners who shared profits and losses on a 3:2:5 basis, respectively. They were beginning to liquidate their business. At the
Angry, Apple, and Tree were partners who shared profits and losses on a 3:2:5 basis, respectively. They were beginning to liquidate their business. At the start of the process, capital balances were as follows: 1. Angry, Capital Apple, Capital Tree, Capital 60,000 34,000 200,000 In addition to the capital shown above, the partnership recorded $28,000 cash, $519,000 noncash assets, and liabilities of $253,000 on the balance sheet dated just prior to the liquidation. Liquidation expenses were estimated to be $5,000. After the liquidation expenses were paid and all noncash assets sold, Apple ended with a negative capital balance deficit] of $6,000. What was the total sales amount for all the noncash assets? [5 extra credit points!!!] 2. Mayor of Munchkin City adopted a General Fund budget for the year ending May 31, 2019. The budget showed revenues of $4,2 10,000, bond proceeds of $1,024,000, appropriations of $3,975,000, and operating transfers of $935,000. Prepare journal entry showing budget integration into fund accounting records [5 extra credit points!!! Angry, Apple, and Tree were partners who shared profits and losses on a 3:2:5 basis, respectively. They were beginning to liquidate their business. At the start of the process, capital balances were as follows: 1. Angry, Capital Apple, Capital Tree, Capital 60,000 34,000 200,000 In addition to the capital shown above, the partnership recorded $28,000 cash, $519,000 noncash assets, and liabilities of $253,000 on the balance sheet dated just prior to the liquidation. Liquidation expenses were estimated to be $5,000. After the liquidation expenses were paid and all noncash assets sold, Apple ended with a negative capital balance deficit] of $6,000. What was the total sales amount for all the noncash assets? [5 extra credit points!!!] 2. Mayor of Munchkin City adopted a General Fund budget for the year ending May 31, 2019. The budget showed revenues of $4,2 10,000, bond proceeds of $1,024,000, appropriations of $3,975,000, and operating transfers of $935,000. Prepare journal entry showing budget integration into fund accounting records [5 extra credit points
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