Ch 12-2 Practice Exercises 1. PE.12-01.ALGO 2. PE.12-02.ALGO 3. PE.12-03.ALGO Liquidating Partnerships Prior to liquidating their partnership, MacPherson and Dunn had capital accounts of $64,000 and $101,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $146,000. The partnership had $7,000 of liabilities. MacPherson and Dunn share income and losses equally Determine the amount received by MacPherson as a final distribution from liquidation of the partnership. 4. PE.12-4.ALGO 5. PE.12-05.ALGO 6. PE.12-06.ALGO