Part A The partnership of Wingler, Norris, Rodgers, and Guthrie was formed several years ago as a local architectural firm. Several partners have recently undergone personal financial problems and have decided to terminate operations and liquidate the business. The following balance sheet is drawn up as a guideline for this process Cash Accounts receivable Inventory Land Building and equipment (net) s 19,000 Liabilities $ 71,000 39,000 126,000 92,000 76,000 63,000 $467,000 86,000 Rodgers, loan Wingler, capital (30%) Norris, capital (10%) Rodgers, capital (20%) Guthrie, capital (40%) 467,000 Total liabilities and capital 105,000 87,000 170,000 Total assets When the liquidation commenced, liquidation expenses of $14,000 were anticipated as being necessary to dispose of all property Prepare a predistribution plan for this partnership Part B The following transactions transpire during the liquidation of the Wingler, Norris, Rodgers, and Guthrie partnership Part A The partnership of Wingler, Norris, Rodgers, and Guthrie was formed several years ago as a local architectural firm. Several partners have recently undergone personal financial problems and have decided to terminate operations and liquidate the business. The following balance sheet is drawn up as a guideline for this process Cash Accounts receivable Inventory Land Building and equipment (net) s 19,000 Liabilities $ 71,000 39,000 126,000 92,000 76,000 63,000 $467,000 86,000 Rodgers, loan Wingler, capital (30%) Norris, capital (10%) Rodgers, capital (20%) Guthrie, capital (40%) 467,000 Total liabilities and capital 105,000 87,000 170,000 Total assets When the liquidation commenced, liquidation expenses of $14,000 were anticipated as being necessary to dispose of all property Prepare a predistribution plan for this partnership Part B The following transactions transpire during the liquidation of the Wingler, Norris, Rodgers, and Guthrie partnership