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Question 3 about 10.00 The ODS Partnership is to be liquidated when the ledger shows the following: Cash $ 50,000 Noncash Assets 200,000 Liabilities 50,000
Question 3 about 10.00 The ODS Partnership is to be liquidated when the ledger shows the following: Cash $ 50,000 Noncash Assets 200,000 Liabilities 50,000 Oslo, Capital 75,000 Decker, Capital 100,000 Silas, Capital 25,000 Oslo, Decker, and Silas' income ratios are 6:3:1, respectively, Instructions Prepare separate entries to record the liquidation of the partnership assuming that the noncash assets are sold for $150,000 in cash
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