BE 155 Barnes Company at December 31 has cash $41.000, noncash assets $210,000, liabilities $111,000, and the capital balances: Carpenter $95.000 and Pendleton $45,000. The firm is liquidated, and $242,000 in cash is received for the noncash assets. Carpenter and Pendleton income ratios are 60% and 40%, respectively. Instructions Prepare a cash distribution schedule. BE 156 In Nelson Co., capital balances are Ozzie $70,000 and Harriet $85,000. The partners share income equally. Denny admitted to the firm with a 40% interest by an investment of cash of $65,000. Journalize the admission of Denny. Ex. 153 The following selected transactions pertain to Linton Corporation: Jan. 3 Issued 160,000 shares, $11 par value, common stock for $24 per share. Feb. 10 Issued 9,000 shares, $12 par value, common stock in exchange for special purpose equipment. Linton Corporation's common stock has been actively traded on the stock exchange at $26 per share. Instructions Journalize the transactions