Partners in Sandhill Partnership decided to liquidate the partnership on June 30, 2021. When the balances in the partneri accounts were as follows Item Cash Accounts Receivable Equipment Accumulated Depreciation $15.500 Accounts Payable A Hunt Capital K.Lally, Capital Balances before liquidation $30,000 $25.800 $44,700 327800 538,700 517300 The partners share profit and loss 5:3:2 for Hunt. Lally, and Portman, respectively. Complete the schedule assuming the noncash assets were sold for $55.000, liabilities are paid, and the cash is distributed appropriately. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es (45) to the schedule in the noncashs were sold for 55.000 abilities are paid and the cashib appropriately Enter negative amounts using either a negative in preceding the numbers 45 or portes 14511 Item Cash Accounts Receivable Equipment Balances before liquidation 5 Sale of noncash assets Payment of liabilities Allocation of cash 120 Prepare the journal entries for the liquidation of the partnership in the noch were sold too. are paid, and the cash is distributed appropriately. Credit account titles are automatically indented when the mounted on Indent manually) Date Account Titles and Explanation Debit Credit June 30 (To record realization of assets.) June 30 Question 37 of 39 20 o recorreo (Payment on account) June 30 (To record final distribution to partners 120 Complete the schedule assuming the two or 41.400 dencient partner. Enter negative amounts using the active in preceding the numbers of the answers to decimal places, 5275) Item Cash Accounts Receive Balances before liquidation Sales of noncash assets and loss on sale of assets Payment of liabilities Payment of deficiency of assets Payment of abilities Payment of deficiency Allocation of cash Prepare the journal entries assuming the assets were sold for 141.400 ddwcences with deficient partner include the journal entries to record the distribution of Canh Credit accounts rebutomatically in the the amount is entered. Do not indent manually Round answers to decimal places. e. 5.275.) Date Account Titles and Explanation Debit Credit June 30 (To record realization of assets.) Question 37 of 39 > (To record final distribution to partners.) Attempts: 0 of 1 used Submit Answer ve for Later A 16C g ( Sony rch Partners in Sandhill Partnership decided to liquidate the partnership on June 30, 2021. When the balances in the partneri accounts were as follows Item Cash Accounts Receivable Equipment Accumulated Depreciation $15.500 Accounts Payable A Hunt Capital K.Lally, Capital Balances before liquidation $30,000 $25.800 $44,700 327800 538,700 517300 The partners share profit and loss 5:3:2 for Hunt. Lally, and Portman, respectively. Complete the schedule assuming the noncash assets were sold for $55.000, liabilities are paid, and the cash is distributed appropriately. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es (45) to the schedule in the noncashs were sold for 55.000 abilities are paid and the cashib appropriately Enter negative amounts using either a negative in preceding the numbers 45 or portes 14511 Item Cash Accounts Receivable Equipment Balances before liquidation 5 Sale of noncash assets Payment of liabilities Allocation of cash 120 Prepare the journal entries for the liquidation of the partnership in the noch were sold too. are paid, and the cash is distributed appropriately. Credit account titles are automatically indented when the mounted on Indent manually) Date Account Titles and Explanation Debit Credit June 30 (To record realization of assets.) June 30 Question 37 of 39 20 o recorreo (Payment on account) June 30 (To record final distribution to partners 120 Complete the schedule assuming the two or 41.400 dencient partner. Enter negative amounts using the active in preceding the numbers of the answers to decimal places, 5275) Item Cash Accounts Receive Balances before liquidation Sales of noncash assets and loss on sale of assets Payment of liabilities Payment of deficiency of assets Payment of abilities Payment of deficiency Allocation of cash Prepare the journal entries assuming the assets were sold for 141.400 ddwcences with deficient partner include the journal entries to record the distribution of Canh Credit accounts rebutomatically in the the amount is entered. Do not indent manually Round answers to decimal places. e. 5.275.) Date Account Titles and Explanation Debit Credit June 30 (To record realization of assets.) Question 37 of 39 > (To record final distribution to partners.) Attempts: 0 of 1 used Submit Answer ve for Later A 16C g ( Sony rch
