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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 Dover, Goll, and Chamberland

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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 Dover, Goll, and Chamberland are $24,600, $35,100, and $15,600, respectively. Cash, noncash assets, and liabilities total $36,900, $64,800, and $26,400, respectively. Between July 1 and July 29, the noncash assets are sold for $51,600, 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, 2016. 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". Dover, Goll, and Chamberland Statement of Partnership Liquidation For the Period Ending July 1-29, 2016 Cash + Noncash Assets Llabilities + Capital Dover (3/6) + Capital Goll (2/6) + Capital Chamberland (1/6) Balances before realization Sale of assets and division of loss + x Balances after realization Payment of liabilities Balances after payment of liabilities $ Cash distributed to partners Final balances * *

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