Question #6: Due to the fact that the partnership had been unprofitable for the past several years, A, B, C, and D decided to liquidate their partnership. The partners share profits and losses in the ratio of 30:30.20.20, respectively. The following balance sheet was prepared immediately before the liquidation process began Cash Other Assets Total Assets A B C D ABCD Partnership Balance Sheet $ 100,000 $50,000 $650.000 The personal status of each partner is as follows: Personal OTHER CASH ASSETS LIABILITIES $100,000 $550,000 $450,000 Assets $175,000 100,000 400,000 60,000 Liabilities A, Capital B, Capital C, Capital D, Capital 75,000 Total Lia & Equities Personal Liabilities $ 120,000 140,000 160,000 70,000 The partnership's other assets are sold for $200,000 cash. The partnership operates in a state which has adopted the Uniform Partnership Act. Required: A. Complete the following schedule of partnership realization and liquidation. Assume that a partner makes additional contributions to the partnership when appropriate based on their individual status. B 60,000- $450,000 75,000 60,000 40,000 25,000 $450.000 CAPITAL C 40,000 D 25,000

Doe to the fact that the partnership had been usprofitable for the past sevenal years, A, B, C, and D deciled to liquidate their partnership. The particrs share profits and losses in the ratio of 30:30,20,20, respectively. The following balance sheet was prepared immedintely before the liquidation process began The p The partnership's other assets aro sold for $200,000 cash. The parinenhip openates in a tate which has adopted the Uniform Partnership Act Required: A. Complete the following schedule of partnership realimation and liquidation. Assume that a partice makes additional contributions to the partnenhip when appropriate bused on their individual status