! Required information QS 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, $129,400; Brown, $165,500; and Snow, $153,800. On May 31, the liquidation resulted in a loss of $407,400. 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.) Answer is not complete. Field Initial investments Loss allocation 1/3 $ 129,400 135,800 Brown $165,500 Snow Total $ 153,800 $ 448,700 1/3 135,800 1/3 135,800 407,400 Capital balances $856,100