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Show all work please? Written out or excel would be appreciated! The partners of Dorothy, Kris & Brenda LLP decided to liquidate on August 1,
Show all work please? Written out or excel would be appreciated!
The partners of Dorothy, Kris & Brenda LLP decided to liquidate on August 1, 2016. The partners share profit and losses using ratios of 25%, 45%, and 30%, respectively. The balance sheet of the partnership is as follows: The disposal of other Assets with a carrying amount of $200,000 realized $140,000. Liquidation expenses are expected to total $6,000.and cash totaling the safe payments was distributed. Prepare a schedule computing the safe cash payments that can be made to each of the partners and in total (i.e., include a total column in your schedule). This is a table showing the attributes of a collection of items. Reconcile total safe payments from your schedule above to available cash less expected paymentsStep by Step Solution
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