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Please answer all parts thx After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and

Please answer all parts thx

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After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims are $31,800, $45,300, and $20,100, respectively. Cash, noncash assets, and liabilities total $47,400, $84,000, and $34,200, respectively. Between July 1 and July 29, the noncash assets are sold for $67,200, the liabilities are paid, and the remaining cash is distributed to the partners. The partners share net income and loss in the ratio of 3:2:1. Prepare a statement of partnership liquidation for the period July 1-29. Enter any subtractions (balance deficiencies, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If an amount is zero, enter in "0". Gold, Porter, and Sims Statement of Partnership Liquidation For the Period Ending July 1-29 Cash + Noncash Assets Liabilities Capital Gold (3/6) Capital Porter Capital Sims (2/6)+ (1/6) Balances before realization Sale of assets and division of loss 1000 Balances after realization Payment of liabilities Balances after payment of 1000 0OC liabilities 1000 0 Cash distributed to partners 1000 Final balances Previous Next docx (1).docx docx.docx Show all Open file Open file 3:48 PM O W ~ 9 4) ENG 12/11/2020

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