P12-29A Allocating profits and losses to the partners, accounting for the liquidation of a partnership ABC is a partnership owned by Angus, Black, and Campini, who share profits and losses in the ratio of 2:1:1, respectively. The account balances of the partnership at June 30, 2018, follow: ABC Adjusted Trial Balance June 30, 2018 Balance Account Title Cash Non-cash Assets Debit Credit $ 35,000 110,000 Notes Payable Angus, Capital Black, Capital Campini, Capital $ 32,000 23,000 44,000 50,000 Angus, Withdrawals 9,000 Black, Withdrawals 31,000 Campini, Withdrawals 46,000 Service Revenue 166,000 Salaries Expense 69,000 Rent Expense 15,000 Total $315,000 $315,000