fx 4 D G H M N 1 12 P12-11E Partner Liquidation Examl xods 300pts Name: After discontinuing the ordinary business operations and closing the accounts on May 7, the ledger of the partnership of Anna, Brian, and Cole indicated the following: 2 3 4 10.000 200 000 300 5 G 7 3 9 10 Cach Noncash Assets Liabilities Anna Capital Brian, Capital Cole, Capital 65,000 72,500 48,333 24.167 210,000 Scoring Rubric Total points Stm PS Lig Correct's Stm format S's Under scores Headings Number formal 80 30 30 60 201 30 210.000 12 11 The partners share net income and losses in the ratio of 5:3:2. Between May 7-30-2014, the noncash assets were sold for $260,000, the liabilities were paid, and the remaining cash was distributed to the partners. Late Other Total points 15 300 300 100% 16 2. Prepare a statement of partnership liquidation. If an amount box does not require an entry, leave it blank or enter"O". Save file name as name, Frame Exam.xls (Note: All balances in any financial statement are "Normal" balances. (V26 pg 56 v27 PE PE 63) Only negative when normal balance is negative: Example: Cash account overdrawn. Use format shown on Pages 569 V26 V27 Pg 610. All balance lines have $'s Numeric formats: $0 and $xxx xxx is "Currency" format, xxx, xox is "General -comma". Do $'s and underscoring per textbook. 28 19 21 Anna, Brian, and Colle Statement of Partnership Liuidation Date formater 22 Capital Cash- Noncash Assets Liabilities + Anna Brian Cole 24 25