I need assistance with Part B.
Updated: I need assistance with Part B. Part B states "Post to the cash and capital accounts."
The partners in Carla Vista Company decide to liquidate the firm when the balance sheet shows the following Assets Cash Carla Vista Company Balance Sheet May 31, 2020 Liabilities and Owners Equity $28,300 Notes payable $13.900 25.500 Accounts payable 27,400 (1.500) Stories and wage payable 4200 34200 A mon capital 33.300 Accounts receivable Allowance for doubtful accounts Inventory Equipment 20.700 5 Moyer, capital 20.550 Accumutated depreciation equipment 15.300) P. Roper capital 2.550 $101.900 $101.000 The partners share income and loss 5:22. During the process of liquidation the following transactions were completed in the The partners Share and 1058563. During the process of liquidation, the following transactions were completed in the following sequence 1 2 A total of $54,050 was received from converting noncash assets into cash Gain or loss on realization was allocated to partners Latitis were paid in fullt 1 4 PRoper paid his capital deficiency Casiwas paid to the partners with creditbalance Debit Credit No. Account Titles and Explanation 1. Cash 54050 Allowance for Doubtful Accounts 1,500 Accumulated Depreciation Equipment 5.300 Lowo Roallation 19.550 Accounts Receivable 25.500 nary 34200 Een 20,700 2 Alisontal 9.775 2. Alison Capta 9.775 Mayer, Capital 5865 PRoper Capital 2910 Lowon alation 19.550 3 Notes Payable 13.000 Accounts Payable 27.400 Salam and Wapes Payable 4.200 Cash 45.500 Cash 1360 Roper Capital 360 0.327 Question 20 of 20 4 1300 55 5 AC 14 5210 (b) Post to the cash and capital accounts. Post entries in the order of journal entries presented in the previous part. I ending balance is enter in the column for the normal balance for the account Cash 5. Moyer, Capital Question 20 of 20 S. Moyer, Capital A. Jamison, Capital > P.Roper, Capital A. Jamison, Capital P. Roper Capital Textbook and Media Current Attempt in Progress The partners in Carla Vista Company decide to liquidate the firm when the balance sheet shows the following Carla Vista Company Balance Sheet May 31, 2020 Liabilities and Owners' Equity $28,300 Notes payable $13,900 Assets Cash Accounts receivable 25,500 Accounts payable 27.400 Allowance for doubtful accounts (1.500) Salaries and wages payable 4.200 Inventory 34,200 A. Jamison, capital 33,300 Equipment 20,700 5. Moyer, capital 20.550 Accumulated depreciation equipment (5,300) P Roper capital 2,550 $101.900 $101.900 The partners share income and loss 5:3:2. During the process of liquidation, the following transactions were completed in the following sequence 1. 2. A total of $54,050 was received from converting noncash assets into cash. Gain or loss on realization was allocated to partners. Liabilities were paid in full. 3. 4. P. Roper paid his capital deficiency. 5. Cash was paid to the partners with credit balances. Prepare the entries to record the transactions. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Cash 54,050 Allowance for Doubtful Accounts 1,500 Accumulated Depreciation-Equipment 5,300 Loss on Realization 19,550 Accounts Receivable 25,500 Inventory 34.200 Equipment 20,700 A. Jamison, Capital 9.775 2. A. Jamison, Capital 9.775 S. Moyer, Capital 5,865 P. Roper. Capital 3,910 Loss on Realization 19.550 3. . Notes Payable 13,900 Accounts Payable 27.400 Salaries and Wages Payable 4,200 Cash 45,500 4. Cash 1,360 4. Cash 1.360 P. Roper, Capital 1.360 5. A. Jamison, Capital 23,525 S. Moyer, Capital 14,685 Cash 38.210 (b) Post to the cash and capital accounts. (Post entries in the order of journal entries presented in the previous part. I ending balance is enter in the column for the normal balance for the account.) Cash C
