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Required information OS 12-13 (Algo) Liquidation of partnership LO P5 [The following information applies to the questions displayed below.) The Field, Brown & Snow are

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Required information OS 12-13 (Algo) Liquidation of partnership LO P5 [The following information applies to the questions displayed below.) The Field, Brown & Snow are partners and share income and losses equality. The partner decide to liquidate the partnership when their capital balances are as follows: Field $130,400; Brown, $166,900; and Snow, $153,200. On May 31, the liquidation resulted in a loss of $405,600 QS 12-13 (Algo) Part 1 1. Compute the capital account balance of each partner after the loss from liquidation is allocated. (Losses and negative capital balances, if any, should be entered with a minus sign.) Field Brown Snow Total Initial investments $ 0 Loss allocation 0 Capital balances $ 0

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