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Quinn. Mellesa, and Harper are liquidating their partnership. They have no agreement for sharing profits and losses. The endine capital account balances are Qun 513.000
Quinn. Mellesa, and Harper are liquidating their partnership. They have no agreement for sharing profits and losses. The endine capital account balances are Qun 513.000 Melissa. 512.000 Harper, (52.000). There is 560.000 in cash to be distributed to the partners. The Journal entry to record the distribution should be Quinn. Capital Metissa, Capital Cash 30.000 30.000 60.000 12.000 45.000 Cash Harper, Capital Quinn Capital Mallissa Capital 2.000 60.000 80.000 Cash Quinn Capital 6.DOC 80.000 Quinn Capital Cash Harper. Capital 30.000 30.000 Quinn Capital Melissa Capital Harper Capital 20.000 20.000 20.000 60.000
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