Statement of Partnership Liquidation

After closing the accounts on July 1, prior to liquidating thepartnership, the capital account balances of Gold, Porter, and Sims are $44,700, $63,600, and $28,200, respectively. Cash, noncash assets, and liabilities total $72,600, $117,600, and $53,700, respectively. Between July 1 and July 29, the noncash assets are sold for $94,200, 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.

a statement of partnershipliquidationfor the period July 1-29. 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 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 realization

$

$

$

$

$

$

Sale of assets and division of loss

+

Balances after realization

$

$

$

$

$

$

Payment of liabilities

Balances after payment of liabilities

$

$

$

$

$

$

Cash distributed to partners

Final balances

$

$

$

$

$

$