Statement of LLC Liquidation Hall, Lang, and Das are members of Capital Sales, LLC, sharing income and losses in the ratio of 2:2:1, respectively. The members decide to liquidate the limited liability company. The members' equity prior to liquidation and asset realization on May 1, 2016, are as follows: Hall $33,600 Lang 77,600 Das 48,300 Total $159,500 In winding up operations during the month of May, noncash assets with a book value of $209,800 are sold for $260,200, and liabilities of $67,500 are satisfied. Prior to realization, Capital Sales has a cash balance of $17.200. a. Prepare a statement of LLC liquidation. Enter any subtractions (balance deficiendes, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If an amount is zero, enter"0 Capital Sales, LLC Statement of LLC Liquidation For the Period May 11, 2015 Member Euty 2/5) Member Equity ng Cash Nocash Assets - Latest 517,200 200 100 67,500 33.600 77,600 Balances before realization Sale of assets and vision of Balances after relation Payment of abilities Balances after payment of eBook Calculator Total $159,500 In winding up operations during the month of May, noncash assets with a book value of $209,800 are sold for $260,200, and liabilities of $67,500 are satisfied. Prior to realization, Capital Sales has a cash balance of $17,200. a. Prepare a statement of LLC liquidation. Enter any subtractions (balance deficiencies, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If an amount is zero, enter "om. Capital Sales, LLC Statement of LLC Liquidation e r the Pied May 131. 2016 Noncach Assets Member Equity Hall (2/5) Member Equity Das Lates Member Equity lang (2/5) + (1/5) Balances before realization $ 209 ROOS $ 3.600 $ 77,600 48.300 Sale of assets and division of Balances after realization Payment of liabilities Balances after payment of Distribution of cash to members Final balances chy Previous Next > Check My Work