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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
Statement of Partnership Liquidation
After closing the accounts on July prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims are $ $ and $ respectively. Cash, noncash assets, and liabilities total $$ and $ respectively. Between July and July the noncash assets are sold for $ the liabilities are paid, and the remaining cash is distributed to the partners. The partners share net income and loss in the ratio of ::
Prepare a statement of partnership liquidation for the period July 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
Gold, Porter, and Sims
Statement of Partnership Liquidation
For the Period Ending July
tableCash tableNoncashAssets tableLiabilitiestableCapital Gold
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