Fill in the chart $!$ A partnership has the following account balances at the date of termination: Cash, $$88,000$; Noncash Assets, $$700,000$ : Liabilities, $$386,000$; Alonso, capital $(50$ percent of profits and losses$),$ $$190,000$; Mann, capital $(30$ percent$),$ $$130,000$; Suzuki, capital $(20$ percent$),$ $$82,000.$ The following transactions occur during liquidation:

Noncash assets with a book value of $$540,000$ are sold for $$440,000$ in cash.

A creditor reduces his claim against the partnership from $$150,000$ to $$130,000,$ and this amount is paid in cash.

The remaining noncash assets are sold for $$130,000$ in cash.

The remaining liabilities of $$236,000$ are paid in full.

Liquidation expenses of $$18,000$ are paid in cash.

Cash remaining after the above transactions have occurred is distributed to the partners.

Required:

Prepare a statement of partnership liquidation to determine how much cash each partner receives from the liquidation of the partnership.

Note: Amounts to be deducted should be entered with a minus sign.

$\backslash$table$[[$ALONSO$,$ MANN, AND SUZUKI PARTNERSHIP$],[$Statement of Partnership Liquidation$],[,$Cash,$\backslash$table$[[$Noncash$],[$Assets$]],$Liabilities,$\backslash$table$[[$Alonso$,],[$Capital $(50\%)]],\backslash$table$[[$Mann$,$ Capital$],[(30\%)]],\backslash$table$[[$Suzuki$,],[$Capital $(20\%)]]],[$Beginning balances,$$,88,000,$$$,700,000,$$$,386,000,$$$,190,000,$$$,130,000,$$$,82,000],[$Sale of noncash assets,,$440,000,,540,000,,,,,,,,],[$Pay liabilities,,$(130,000),,,,,,,,,,],[$Sale of remaining noncash assets,,$130,000,,,,,,,,,,],[$Pay remaining liabilities,,$(236,000),,,,,,,,,,],[$Pay liquidation expenses,,$(18,000),,,,,,,,,,],[$Subtotal$,$$$,274,000,$$$,1,240,000,$$$,386,000,$$$,190,000,$$$,130,000,$$$,82,000],[$Distribution to partners,,$80,000,,,,,,,,,,],[$Ending balances,$$,354,000,$$$,1,240,000,$$$,386,000,$$$,190,000,$$$,130,000,$$$,82,000]]$