ATHENE Tools Window Help Chapter 14 Partnerships Ownership_Changes_and_Liquidations.pdf (page 15 of 18) 49. D, E & F are partners. According to the articles of copartnership they agree to sha 40% and 20%... The partners have agreed to liquidate and anticipate liquidation expen liquidation the following balance were available: Cash $50,000 Noncash Assets $400,000 Notes Payable to E $24,000 Other liabilities S330.000 D Capital $80,000 E Capital S36,000 F Capital (Deficit) ($20,000) Instructions: Assuming actual liquidation expenses are $40,000 and that noncash assets so the assets will be distributed. F had net personal assets of $20,000. ANSWER: Cash Noncash Liabilities D Capital Assets Begin S50000 $400,000 $330.000 580000 Balance Liquid exp Sale Non (S40000) S320,000 Cash (400.000) (S16000) ($32,000) ($330,000) Paymt of liab Contrib by (S330,000) S20000 Alloca of F deficit (SI2000) ATHENE M 9 70% Mon 8:01 PM ew Go Tools Window Help Chapter 14 Partnerships Ownership_Changes and Liquidations.pdf (page 15 of 18) Z a @ Search Commer for Upd Instructions: Assuming actual liquidation expenses are $40,000 and that noncash assets sold fors360,000. Determine how the assets will be distributed. F had net personal assets of $20,000 ANSWER: Noncash Liabilities E Capital Cash D Capital F Capital Assets Begin $400,000 $50000 $330,000 $80000 ($20000) $60000 Balance (S16000) Liquid exp ($16000) ($8000) (S40000) Sale Non $320,000 (400,000) ($32,000) ($32,000) ($16,000) Cash Paymt of ($330,000) (S330,000) liab $20000 Contrib by S20000 (S12000) ($12000) $24,000 Alloca of F deficit Dist to partner (S20,000) (S20,000) 50. The partnership of X,Y, Z was liquidated. The partners shared profit and loss in the ratio of 2/4/4. Prior to liquidation so. Document16 Layout References Mailings Review View A A Aav AO Ever X, x' ABA v av AL AaBbCcDdEe A locomotie Aa Bb with security updates, fixes, and improvements, choose Check for Updates. problem with your Office 365 subscription, and we need your help to fix it. Where is the 60,000 for capital E. I would think should be 36,000. Can please explain English (United States)