p12-30a

Homework: Chapter 12 Homework Save Score: 0 of 1 pt 3 of 3 (1 complete) HW Score: 25%, 0.75 of 3 pts P12-30A (similar to) Question Help LOT is a partnership owned by Laber, Olsen, and Tellman. The partners profit and loss sharing ratio is 2.2.1. respectively. The adjusted trial balance of the partnership at November 30, 2018 follows BSB Click the icon to view the trial balance.) Read the requirements Requirement 1. Prepare a statement of partners' equity for the month ended November 30, 2018 Use a separate column for each partner in the statement of partners' equity Assume no now capital contebutions during November LOT Statement of Partners' Equity Month Ended November 30, 2018 Choose from any list or enter any number in the input toids and then click Check Answer - A Requirements - X Ise palang Ice of pai uring the sta 1. Prepare a statement of partners' equity for the month ended November 30, 2018. Use a separate column for each partner in the statement of partners equity. Assume no new capital contributions during November 2. Prepare the four closing entries for the month ended November 30, 2018 3. Tellman decides to withdraw from the partnership on December 1, 2018 Her settlement includes all the Merchandise Inventory and all of the Cash in exchange for her equity interest in the partnership 4. Immediately after Tellman's withdrawal Laber and Olsen decide to liquidate the partnership. They sell the building for $155,000. Then they pay the liabilities and distribute the cash to complete the liquidation Journalize these liquidation entries. Assume the profit-and-loss-sharing ratios remain the same. nt of ded N umber Print Done LOT Adjusted Trial Balance November 30, 2018 Balance Debit Credit Account Title Cash 7.000 Merchandise Inventory 9.000 240.000 Building Accumulated Depreciation Building Accounts Payable Mortgage Payable Laber, Capital Olsen, Capital Tellman, Capital Laber, Withdrawals Olsen, Withdrawals Tellman, Withdrawals Sales Revenue Cost of Good Sold Salaries Expense 50.000 16,000 45.000 95.000 60.000 40.000 14.000 9.000 12.000 72.000 49.000 24.000 14 000 Rent Expense 378.000 $ 378.000 Total