from liquidation of the partnership. 512- 650 PE 12-GA Liquidating partnerships--deficiency OBJ. 4 Prior to liquidating their partnership, Wakefield and Barns had capital accounts of $105.000 and $55,000, respectively. The partnership assets were sold for $40,000. The partnership had no liabilities. Wakefield and Barns share income and losses equally. a. Determine the amount of Bars' deficiency. b. Determine the amount distributed to Wakefield, assuming Bams is unable to satisfy the deficiency w g 219 255LIS LU WIL UUS and the division of the partnership net income? ter 12 Accounting for Partnerships ting for Partnerships and Limited Liability Companies Myers obtained appraised values for the land and equipment as follows: Land $300,000 Equipment 32,700 An analysis of the accounts receivable indicated that the allowance for doubtful accounts should be increased to $9,200. Journalize the partnership's entry for Myers' investment. from liquidation of the partnership. 512- 650 PE 12-GA Liquidating partnerships--deficiency OBJ. 4 Prior to liquidating their partnership, Wakefield and Barns had capital accounts of $105.000 and $55,000, respectively. The partnership assets were sold for $40,000. The partnership had no liabilities. Wakefield and Barns share income and losses equally. a. Determine the amount of Bars' deficiency. b. Determine the amount distributed to Wakefield, assuming Bams is unable to satisfy the deficiency w g 219 255LIS LU WIL UUS and the division of the partnership net income? ter 12 Accounting for Partnerships ting for Partnerships and Limited Liability Companies Myers obtained appraised values for the land and equipment as follows: Land $300,000 Equipment 32,700 An analysis of the accounts receivable indicated that the allowance for doubtful accounts should be increased to $9,200. Journalize the partnership's entry for Myers' investment