Expert Q&A Done Problem 15-20 Alge) LD 15-6 The other haben estat deco potecara otomoto MILLADDADE C Me The following balance sheet is for a partnership in which the partners have decided to terminate operations and liquidate assets. The partners estimate liquidation expenses will be $15,000. Cash Noncash assets $ 100,000 240,000 Liabilities Arch, capital (40%) Bibb, capital (20%) Dao, capital (401) Total liabilities and capital $ 50,000 120,000 60,000 110,000 $ 340,000 Total assets $ 340,000 Prepare a proposed schedule of liquidation to carry out a preliminary distribution of partnership assets at the date of termination (Amounts to be deducted should be entered with a minus sign.) ARCH, BIBB, AND DAO PARTNERSHIP Proposed Schedule of Liquidation Date of Termination Cash Noncash Liabilities Arch, Capital Assets 40% Bibb, Capital 20% Dao, Capital 40% Beginning balances Pay liabilities Max. liquidation expenses Max. loss -noncash assets Initial safe payments