q11

Question 11

Jestion 11 5 points A, B and C are partners and sharing income and loss in a 39:1 ratio respectively. They decided to liquidate the partnership, Before the final distribution of the rerrjamrjg cash to the partners, A has a capital balance of $ (30,000), B has a capital balance of $72,000 and C has a capital balance of $48,000. Cash balance i; the amount he owes the partnership: Prepare journal entries to record the above liquidation process. YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM; DO NOT USE BETWEEN NUMBERS: 1 Dr. cash 100000 cr. Land IOOOCC For the toolbar, press ALT+FIO or ALT+FN+FIO (Mac). v Arial B I u S Paragraph v 1 Opt A