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Statement of Partnership Liquidation After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims

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Statement of Partnership Liquidation After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims are $27,900, $39,600, and $17,700, respectively. Cash, noncash assets, and liabilitles total $43,500, $73,500, and $31,800, respectively. Between July 1 and July 29, the noncash assets are sold for $58,500, the liabilities are paid, and the remaining cash is distributed to the partners. The partners share net income and loss in the ratio of 3:2:1 Prepare a statement of partnership liquidation for the period July 1-29. Enter any subtractions (balance deficiencles, payments,, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If an amount is zero, enter in "0" Gold, Porter, and Sims Statement of Partnership Liquidation For the Period Ending July 1-29 Cash + Noncash Assets Liabilities +Capital Gold (3/6)+ Capital Porter (2/6) + Capital Sims (1/6) Balances before realzation Sale of assets and division of loss Balances after realization $ Payment of labilities Balances after payment of liabilities $ Cash distributed to partners Final balances

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