PLEASE ANSWER ALL PARTS OF THE QUESTION AND FOLLOW THE SAME FORMAT! 
1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G Required 2 Inventory Required 2 G Required 3 Inventory Required 3 GJ Required 4 Inventory Required 4 G) Complete the schedule allocating the gain or loss on the sale of inventory is $500,000. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory Inventory cost $ 500.000 Step 2) Allocation of the Gain (Loss) to the Partners. KENDRA Initial capital balances $ 93.000 COGLEY $ 212,500 $ MEI Total 167,000 $ 472,500 0 167,000 $ 472,500 3/6 2/6 1/6 Allocation of gains (losses) Capital balances after gains (losses) $ 93,000 $ 212,500 $ Complete this question by entering your answers in the tabs below. Required 1 G Required 2 Required 1 Inventory Required 2 G Required 3 Inventory Required 4 Required 3 G Inventory Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $500,000. View transaction list Journal entry worksheet Record the sale of inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Cash Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G Required 2 Required 2 G Required 3 Inventory Required 3 G Inventory Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $500,000. View transaction list Journal entry worksheet Allocate the gain(loss) on the sale of inventory to the partners. Note: Enter debits before credits. General Journal Debit Credit Transaction (b) Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G Required 2 Required 2 G Required 3 Inventory Required 3 G Inventory Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $500,000. View transaction list Journal entry worksheet Record the payment of the liabilities. Note: Enter debits before credits. Transaction General Journal Debit Credit (c) Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 G Required 2 Required 1 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $500,000. View transaction list Journal entry worksheet Record the disbursement of the remaining cash to the partners. Note: Enter debits before credits. Transaction General Journal Debit Credit (d) 10 Record entry Clear entry View general journal 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 3 Required 1 Inventory Required 2 Inventory Required 4 Required 1 G) Required 2 G Inventory Required 3 GJ Inventory Required 4 GJ Complete the schedule allocating the gain or loss on the sale of inventory is $320,000 and partners with deficits pay their deficits in cash. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory Inventory cost $ 320,000 Step 2) Allocation of the Gain (Loss) to the Partners. KENDRA Initial capital balances $ 93,000 Allocation of gains (losses) 3/6 Capital balances after gains (losses) $ 93,000 COGLEY $ 212,500 MEI Total 167,000 $ 472,500 S 2/6 1/6 0 $ 212,500 S 167.000 $ 472.500 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 GJ Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet Record the sale of inventory Note: Enter debits before credits General Journal Debit Credit Transaction (a) SEN 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G) Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet Allocate the gain(loss) on the sale of Inventory to the partners. Note: Enter debits before credits General Journal Debit Credit Transaction (6-1) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet The partner(s) with deficit balances repay the amount of their deficit(s). Note: Enter debits before credits General Journal Debit Credit Transaction (b-2) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet Record the payment of liabilities. Note: Enter debits before credits. General Journal Debit Credit Transaction (c) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2G) Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G) Required 2 Inventory Required 2 G Required 3 Inventory Required 3 GB Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet 1 2 3 4 5 > Record the sale of inventory for $250,000. Note: Enter debits before credits Transaction General Journal Debit Credit (a) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet Record the allocation of the gain or loss on the sale of inventory to the partners. Note: Enter debits before credits. General Journal Debit Credit Transaction (6-1) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet Assuming that the partners have no assets other than those invested, allocate any partner(s) deficit balances to the remaining partners. Note: Enter debits before credits. General Journal Debit Credit Transaction (1-2) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 GB Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet Record the payment of liabilities. Note: Enter debits before credits General Journal Debit Credit Transaction (c) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G) Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 G Required 2 Required 1 Inventory Required 2 G Required 3 Inventory Required 4 Required 3 G Inventory Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $500,000. View transaction list Journal entry worksheet Record the sale of inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Cash Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G Required 2 Required 2 G Required 3 Inventory Required 3 G Inventory Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $500,000. View transaction list Journal entry worksheet Allocate the gain(loss) on the sale of inventory to the partners. Note: Enter debits before credits. General Journal Debit Credit Transaction (b) Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G Required 2 Required 2 G Required 3 Inventory Required 3 G Inventory Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $500,000. View transaction list Journal entry worksheet Record the payment of the liabilities. Note: Enter debits before credits. Transaction General Journal Debit Credit (c) Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 G Required 2 Required 1 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $500,000. View transaction list Journal entry worksheet Record the disbursement of the remaining cash to the partners. Note: Enter debits before credits. Transaction General Journal Debit Credit (d) 10 Record entry Clear entry View general journal 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 3 Required 1 Inventory Required 2 Inventory Required 4 Required 1 G) Required 2 G Inventory Required 3 GJ Inventory Required 4 GJ Complete the schedule allocating the gain or loss on the sale of inventory is $320,000 and partners with deficits pay their deficits in cash. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory Inventory cost $ 320,000 Step 2) Allocation of the Gain (Loss) to the Partners. KENDRA Initial capital balances $ 93,000 Allocation of gains (losses) 3/6 Capital balances after gains (losses) $ 93,000 COGLEY $ 212,500 MEI Total 167,000 $ 472,500 S 2/6 1/6 0 $ 212,500 S 167.000 $ 472.500 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 GJ Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet Record the sale of inventory Note: Enter debits before credits General Journal Debit Credit Transaction (a) SEN 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G) Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet Allocate the gain(loss) on the sale of Inventory to the partners. Note: Enter debits before credits General Journal Debit Credit Transaction (6-1) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet The partner(s) with deficit balances repay the amount of their deficit(s). Note: Enter debits before credits General Journal Debit Credit Transaction (b-2) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet Record the payment of liabilities. Note: Enter debits before credits. General Journal Debit Credit Transaction (c) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2G) Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $320,000 and partners with deficits pay their deficits in cash. View transaction list Journal entry worksheet 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G) Required 2 Inventory Required 2 G Required 3 Inventory Required 3 GB Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet 1 2 3 4 5 > Record the sale of inventory for $250,000. Note: Enter debits before credits Transaction General Journal Debit Credit (a) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet Record the allocation of the gain or loss on the sale of inventory to the partners. Note: Enter debits before credits. General Journal Debit Credit Transaction (6-1) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet Assuming that the partners have no assets other than those invested, allocate any partner(s) deficit balances to the remaining partners. Note: Enter debits before credits. General Journal Debit Credit Transaction (1-2) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 6] Required 2 Inventory Required 2 G Required 3 Inventory Required 3 GB Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet Record the payment of liabilities. Note: Enter debits before credits General Journal Debit Credit Transaction (c) 1. Inventory is sold for $600,000 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 G) Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Required 4 GJ Prepare journal entries to record the inventory is sold for $250,000 and partners with deficits do not pay their deficits. View transaction list Journal entry worksheet
