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David Wallace, Olena Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as of December 31, 2020
David Wallace, Olena Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as of December 31, 2020 Accu Depree. Accounts Cash Equipment aspment Payable $21.400 $168,000 $93.000 + 100 Notes Payable $16.000 David Wallace Capital $25,000 Olen Dunn Capital $18,000 Danny Line Capital $16,000 heeeunt balance: Decembet al, 2020 Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $60,000 en January 1, 2021. The partners share any profit (loss) in the ratio of 2.11 for Wallace, Dunn, and Lin, respectively Required: 1. Complete the schedule. (Negative answers should be indicated by a minus sign.) Adoum. Cash Equipment Depres Equipment 21.400S 164.000 $ 33,000 Accounts Payable Notes Payable David Wallace Capital 5 35,000 Olena Dunn Capital Danny Lin Capital 10,000 Account balances December 31, 2020 3 7.400 5 10,000 $ 18,000 3 Sale of equipment BAHCE 21.40015 184.000$ 33.000 S 7.400$ 10.000 s 35,000 18.000 5 10,000 Payment of isbites S 21.400 S 104.000s 92.000 7400 16.000 $ 35.000 5 18.000 s 19,000
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