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L Twitch LOL fantasy football Your stream on So.... tft Use the following information for the next FOUR items ABC partnership is being liquidated.
L Twitch LOL fantasy football Your stream on So.... tft Use the following information for the next FOUR items ABC partnership is being liquidated. Partners share profits and losses equally. Beginning balances were as illustrated in the table below. Assume all non-cash assets were sold for $64,000. Partnership liabilities were settled. Partners with deficit capital balances contribute to settling their deficits to the extent of their personal assets and personal liabilities (equal priority). Partner A: personal assets $50,000, personal liabilities $20,000. Partner B: personal assets $30,000. personal liabilities $16,000. Partner C: personal assets $20,000, personal liabilities 10,000 Cash Non-Cash Liabilities A's Capital B's Capital C's Capital Assets Beginning balances $0 $100,000 $52,000 $37,000 $(12,000) $23,000 (Hint: you need to complete the liquidation schedule before answering the following questions) 80 900 DOD FS F3 Book Ph
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