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Click Submit to cumplete this assetament Question 16 Q1616 2 pois All, Basel and Ziad are sharing income and loss in a 4:32 ratio
Click Submit to cumplete this assetament Question 16 Q1616 2 pois All, Basel and Ziad are sharing income and loss in a 4:32 ratio respectively and decided to liquidate their partnership. Prior to the final distribution of cash to the partners, All has a capital balance of $(20.000). Basel has a capital balance of $48,000, and Ziad has a capital balance of $72.000 Also, cash balance is $100,000. All is NOT able to pay the amount he owes the partnership. Which of the following two journal entries are right to record this liquidation case? COA Basel Capital Ziad Capital All Capital Basel capital Ziad capital Cash On Basel Capital Ziad Capital 8,000 12,000 20,000 36,000 64,000 100,000 12,000 8.000
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