Q1 ) Appalachian Company at December 31 has cash $40,000, noncash assets $200,000, liabilities $110,000, and the following capital balances: Hoffman $90,000 and Mena $40,000. The firm is liquidated, and $220,000 in cash is received for the noncash assets. Hoffman and Mena income ratios are 60% and 40%, respectively. Instructions Prepare a cash distribution schedule( 6points) (2) Identify the principal characteristics of the partnership form of business organization?( 5 points) (3) A, B and C are three partners in partnerships; on 1/1/207. you got the following information capital Profit loss ratio A B 100,000 80,000 20,000 50% 40% 10% On the same date they agree to admit Y on partnerships by investing cash S 60,000 by giving him 20% capital interest and profits Instructions By using goodwill method record the journal entries to admit Y by using ( 9 points) A) Goodwill methods B) Bonus methods