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pls help Some of these gubitation After the accounts are deed on April 10.belot to liquidating the partners, the capital accounts of Zachfarchild, Austin Lowes,
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Some of these gubitation After the accounts are deed on April 10.belot to liquidating the partners, the capital accounts of Zachfarchild, Austin Lowes, and Amber Howand are 345,200, 58100, and 535,400, rectively Cash and noncash assets total 511,600 and $39,500, respectively amounts owed to creditors total $12,400. The partners share Income and fosses in the ratio of 11:2. Between April 10 and Apart 30, the channels are sold for 547,506, the partner with the capital defidency pay the Gelidency to the partnership, and the abilities are paid Required 1. Prepare a statement of paternitio liquidation, Indicating (a) the sale of assets and division of bona. (b) the payment of abilities, the receipt of the deficiency (from the appropriate partners and (d) the tribution of cash inter ww subtractions (balance delcedes, anunta, cash distribucions, division of low.colul asta) a negative numbers ving a minus son. I there is no amount or an amount is zero, enter 8 birchild towe wndlowand Statement of Partnership Liquidation For the Period April 100 Capital Cash Noncash Assets Liabilities Fairchild (174) Lowes (1/4) Howard (3/4) 0.100 15.400 Balances before relation 11,600 09,500 12,400 45.2007 319,500 Sales and vision of loss Balances are Payment of labore 47.500 59.100 0 V 12,400 Balance cartofi 46,700 Receipt of dendency faces Cash distributed to partners Tinat balance Bus 102 Managerial Accounting Hon eBook 2. Assume that the partner with the capital deficiency declares bankruptcy and is unable to pay the deficiency 1. Journalize the entry to allocate the partner's defidency. If an amount box does not require an entry leave it blank Credit Account Zach Fairchild, Capital Debit 0 X Amber Howard, Capital Austin Lowes Capital b. Journalize the entry to distribute the remaining cash. If an amount box does not require an entry leave it blank. Account Debit Credit 33,900 Zach Fairchild, Capital Amber Howard, Capital Cash Step by Step Solution
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