Question
KKG Partnership established by Kris, Ken and Gres has been agreed to be liquidated as of January 1, 2017. Financial position shortly before liquidation as
KKG Partnership established by Kris, Ken and Gres has been agreed to be liquidated as of January 1, 2017. Financial position shortly before liquidation as follows (in thousands of rupiah):
Cash160.000
Liabilities 200.000
Inventory 440.000
Loan from Gres 100.000
Plant Assets 1.000.000
Kris\'s Capital (40%) 500.000
Other Assets 400.000
Ken\'s Capital (30%) 600.000
Gres\'s Capital (30%) 600.000
Total 2.000.000
Total 2.000.000
The liquidation process is carried out gradually for three months, namely:
January : Plant assets with a book value of Rp 600,000,000 sold for Rp 480,000,000
February : Supplies are sold for Rp 500,000,000.
All existing cash is distributed unless Rp 10,000,000 is withheld for expenses
Liquidation. Liquidation fees will be paid in March.
March : The remaining plant assets are sold for Rp 340,000,000 and other assets are sold for Rp420.000.000
Requested: Make a Statement of Liquidation and its safe payment schedule.
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