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ORDU L HORkeAssignmentSessionLocator&inprogress=false Book Calculator Print Item Liquidating partnerships-capital deficiency Instructions Chart of Accounts Starting Questions Journal Instructions Lewis, Zapata, and Fowler share equally in net income and net losses. After the partnership sells all assets for cash, divides the losses on realization, and pays the liabilities, the balances in the capital accounts are as follows: Lewis, $76,580 Cr: Zapata, $35,050 Cr; Fowler, $16,980 Dr. Required: A. What form is applied to the debit balance in Fowler's capital account? B. What is the amount of cash on hand? C. On December 31, journaline the transaction that must take place for Lewis and Zapate to receive cash in the their capital account balances. Refer to the Chart of Accounts for exact wording of accounts cation process equal to dos Next Instructions Chart of Accounts Starting Questions Journal REVENUE 410 Sales 610 Interest Revenue Chart of Accounts ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 113 Allowance for Doubtful Accounts 114 Interest Receivable 115 Notes Receivable 116 Inventory 117 Office Supplies 118 Store Supplies 119 Prepaid Insurance 120 Land 123 Equipment 124 Accumulated Depreciation Equipment 129 Asset Revaluations 133 Patent EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 531 Rent Expense 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense Check My Work 2 more Check My Work uses remaining Previous Font (pi book Calculator Print Item Liquidating partnerships-capital deficiency Instructions Chart of Accounts Starting Questions Journal Chart of Accounts LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 530 Miscellaneous Expense 710 Interest Expense EQUITY 310 Lewis Capital 311 Lewis Drawing 312 Zapata, Capital 313 Zapata, Drawing 314 Fowler, Capital 315 Fowler, Drawing Check My Work 2 more Check My Works remaining Previous Printiem Liquidating partnerships-capital deficiency Instructions Chart of Accounts Starting Questions ! Journal Starting Questions Shaded cells have feedback. X A. What term is applied to the debit balance in Fowler's capital account? Deficiency Points: B. What is the amount of cash on hand? $128,610.00 X Points: 314 Fowler, Capital 315 Fowler, Drawing Check My Work 2 more Check My Work uses remaining e s -capital deficiency Instructions Chart of Accounts Starting Questions Journal Journal Shaded cash check pats to receive cash in the process equal to the capital C. On December 31, journalize the transaction that must take place for Lewis and Refer to the Chart of Accounts for exact wording of accounts How does grading work? JOURNAL Score: 25 ACCOUNTINGE SRO DO DATE Dec 31" Lewis, Capital Zaqata, Capital Food Check My Work Previous Next > oming Check My Work 2 ore Check My Work 98 o ir u