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 $$24,600,$$$35,100,$ and $$15,600,$ respectively. Cash, noncash assets, and liabilities total $$39,000,$$$64,800,$ and $$28,500,$ 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 $1-29.$ 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 $1-29$

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