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i need answers (please in computadora , no paper) Problem 2-30 points M3M partnership started the liquidation process in April. The partners closed the books
i need answers (please in computadora , no paper)
Problem 2-30 points M3M partnership started the liquidation process in April. The partners closed the books and presented the following balance: Cash $18,000 Accounts Receivables $80,000 Inventory $50,000 Plant Assets - net $104,000 Liabilities $80,000 Maribel, Capital $32,000 Morales, Capital $60,000 Mary, Capital $80,000 Interest of Partners: Maribel - 25%, Morales - 30% and Mary -45% The partners agreed that each could wait to receive cash until the liquidation is completed. The following events take place during the liquidation. 1. The inventory is sold for $45,000. Plant assets are sold for $105,000. Accounts receivables, collected 80% The liabilities are fully paid. Liquidation expenses of $3,000 are incurred. All remaining assets are distributed to the partners. 4. 5. 6. REQUIRED: Complete the partnership's Statement Liquidation Step by Step Solution
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