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Required Information (The following information applies to the questions displayed below.) Turner, Roth, and Lowe are partners who share income and loss in a 1:45

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Required Information (The following information applies to the questions displayed below.) Turner, Roth, and Lowe are partners who share income and loss in a 1:45 ratio in percents: Turner, 10% Roth, 40% and Lowe, 50%). The Partners decide to liquidate the partnership, Immediately before liquidation, the partnership balance sheet shows total assets. $171600 total liabilities. $116,000. Turner, Capital, $6,300: Roth, Capital, $15,900, and Lowe, Capital, $33,400. Cash received from selling the assets was sufficient to repay all but $47.000 to the creditors. Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners: c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the loss from selling the assets Liabilities before liquidation Proceeds from sale of assets (paid to creditors) Remaining abilities Proceeds from sale of assets Book value of sold Required> Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners. c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Required A Requiredo Required Allocate the loss from part a to the partners, (losses and deficit should be indicated with a minun sion) Turner $ 0.300 Roth $ 15.900 Lowo 33.400 Total 55,600 $ Initial capital balances Allocation of gains (0) Capital balance after gains (0) Required A Required Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners, c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Required A Required B Required Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency. Turner Roth Lowe Total Amount to be contributed to the partnership

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