i need help with part c please. ive mostly got the rest, but i need help with part C and the journal entries.
Journal entry worksheet G Record the entry for cash payments made to partners in accordance with predistribution plan. Note: inter debits before credits. Prepare journal entries to record the liquidation transactions reflected in the final statement of liquidation. Note; if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry for initial cash payments made to partners in accordance with predistribution plan. Note; Enter debins before credits. Journal entry worksheet Record the sale of the remaining noncash assets for $49,000. Note: Enter debits before credits. Journal entry worksheet D E F G Record the sale of noncash assets with a book value of $90,000 for $60,000. Nate: Enter debits before credits. BAUER, OHTANI, AND SOUZA Statement of Partnership Liquidation Final Balances Journal entry worksheet Record the entry for final cash payments made to partners based on ending capital balances. Note: Enter debits before credits. The partnership of Bauer, Ohtani, and Souza has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the following account balances: Required: Part A Prepare a predistribution plan for this partnership. Part B The following transactions occur in liquidating this business: 1. Distributed safe payments of cash immediately to the partners. Liquidation expenses of $10,000 are estimated as a basis for this computation. 2. Sold noncash assets with a book value of $90,000 for $60000. 3. Paid all liabilities. 4. Distributed safe payments of cash again. 5. Sold remaining noncash assets for $49,000. 6. Paid actual liquidation expenses of $8,000 only. 7. Distributed remaining cash to the partmers and closed the financial records of the business permanently. Prepare a final statement of liquidation for this partnership using the predistribution plan to determine payments of cash to partners. Part C Prepare journal entries to record the liquidation transactions reflected in the final statement of liquidation. (Ctri) ) Prepare a predistribution plan for this partnership. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Journal entry worksheet Record the payment of liquidation expenses. Notef Enter debits before credits. Journal entry worksheet Record the extinguishment of all partnership liabilities. Nolie: Enter dobits before credits. Prepare a final vtatement of llquidation for this parthership using the predistribution plan to determine payments of cash to partners. Note: Do not round intermedfote calculations. Round your final answers to the nearest whole dollar amount. Journal entry worksheet G Record the entry for cash payments made to partners in accordance with predistribution plan. Note: inter debits before credits. Prepare journal entries to record the liquidation transactions reflected in the final statement of liquidation. Note; if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry for initial cash payments made to partners in accordance with predistribution plan. Note; Enter debins before credits. Journal entry worksheet Record the sale of the remaining noncash assets for $49,000. Note: Enter debits before credits. Journal entry worksheet D E F G Record the sale of noncash assets with a book value of $90,000 for $60,000. Nate: Enter debits before credits. BAUER, OHTANI, AND SOUZA Statement of Partnership Liquidation Final Balances Journal entry worksheet Record the entry for final cash payments made to partners based on ending capital balances. Note: Enter debits before credits. The partnership of Bauer, Ohtani, and Souza has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the following account balances: Required: Part A Prepare a predistribution plan for this partnership. Part B The following transactions occur in liquidating this business: 1. Distributed safe payments of cash immediately to the partners. Liquidation expenses of $10,000 are estimated as a basis for this computation. 2. Sold noncash assets with a book value of $90,000 for $60000. 3. Paid all liabilities. 4. Distributed safe payments of cash again. 5. Sold remaining noncash assets for $49,000. 6. Paid actual liquidation expenses of $8,000 only. 7. Distributed remaining cash to the partmers and closed the financial records of the business permanently. Prepare a final statement of liquidation for this partnership using the predistribution plan to determine payments of cash to partners. Part C Prepare journal entries to record the liquidation transactions reflected in the final statement of liquidation. (Ctri) ) Prepare a predistribution plan for this partnership. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Journal entry worksheet Record the payment of liquidation expenses. Notef Enter debits before credits. Journal entry worksheet Record the extinguishment of all partnership liabilities. Nolie: Enter dobits before credits. Prepare a final vtatement of llquidation for this parthership using the predistribution plan to determine payments of cash to partners. Note: Do not round intermedfote calculations. Round your final answers to the nearest whole dollar amount
