! Required information QS 12-9 Liquidation of partnership LO P5 [The following information applies to the questions displayed below.] The Field, Brown & Snow partnership was begun with investments by the partners as follows: Field, $132,000; Brown, $165,600, and Snow, $153,900. The partners decide to liquidate, sharing all losses equally. On May 31, after all assets were sold and all creditors were paid, only $43,500 in partnership cash remained. QS 12-9 Part 1 1. Compute the capital account balance of each partner after the liquidation of assets and payment of creditors. (Losses and negative capital balances, if any, should be entered with a minus sign.) Field Brown Snow Total Initial investments $ 0 1/3 0 Allocation of gains (losses) Capital balances $ 0