! 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, $129,600; Brown, $166,800; and Snow, $155,800. 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.) Initial investments Loss allocation 1/3 Field $ 131,250 135,000 Brown Snow $ 165,000 $ 153,750 Total $ 450,000 Capital balances 135,000 $ 585,000 1/2 1/3 1/6