Statement of Partnership Liquidation

After closing the accounts on July $1,$ prior to liquidating the partnership, the capital account balances of Silver, Carillo, and Tingley are

$$39,300,$$$55,800,$ and $$24,900,$ respectively. Cash, noncash assets, and liabilities total $$58,500,$$$103,500,$ and $$42,000,$ respectively.

Between July $1$ and July $29,$ the noncash assets are sold for $$82,500,$ 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 deficiencies, payments, cash

distributions, divisions of loss, sale of assets$)$ as negative numbers using a minus sign. If an amount is zero, enter in $"0".$

Silver, Carillo, and Tingley

Statement of Partnership Liquidation

For the Period Ending July $1-29$