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Please show what the Receipt of deficiency balances would be!!!!!!!!!!!! ^^^^^^^ DUE TONIGHT!! Please show RECEIPT OF DEFICIENCY BALANCES!!! After discontinuing the ordinary business operations

Please show what the Receipt of deficiency balances would be!!!!!!!!!!!!

^^^^^^^ DUE TONIGHT!! Please show RECEIPT OF DEFICIENCY BALANCES!!!

After discontinuing the ordinary business operations and closing the accounts on May 7, the ledger of the partnership of Anna, Brian, and Cole indicated the following:

Cash

$ 7,500

Noncash Assets

105,000

Liabilities

$ 27,500

Anna, Capital

45,000

Brian, Capital

15,000

Cole, Capital

25,000

$112,500

$112,500

The partners share net income and losses in the ratio of 3:2:1. Between May 7-30, the noncash assets were sold for $150,000, the liabilities were paid, and the remaining cash was distributed to the partners.

Please show what the Receipt of deficiency balances would be!!!!!!!!!!!!

(a)

Prepare a statement of partnership liquidation.

Capital
Noncash Anna Brian Cole
Cash + Assets = Liabilities + + +
Balances before realization 7,500.00
Sale of assets and division of gain 1,50,000.00
Balances after realization 1,57,500.00
Payment of liabilities -27,500.00
Balances after payment of liabilities 1,30,000.00
Receipt of deficiency
Balances 1,30,000.00
Cash distributed to partners -1,30,000.00
Final balances -

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