Statement of Partnership Liquidation After dosing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Silver, Carillo, and Tingley are 577,700, 551,800, and $25,900, respectively. Cash, noncash assets, and liabilities total $72,500, $124,200, and $41,300, respectively. Between July 1 and July 29, the noncash assets are sold for $116,400, 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 "o". Silver, Carillo, and Tingley Statement of Partnership Liquidation For the Period July 1-29 Cash + Noncash Assets Silver (3/6) Carillo (2/6) Tingley (1/6) Balances before realization 34.200 Liabilities + 45.900 21.600 Sale of assets and division of loss 9,000 6,000 3.000 Balances after realization 25.200 42,00 18.00 Payment of liabilities Balances after payment of liabilities 25.200 42,00 IKOOD 25,100 Cash distributed to partners 42.900 1.000 Final balances Admitting a New LLC Member With Bonus Alert Medical, LLC, consists of two doctors, Abrams and Lipscomb, who share in all income and losses according to a 2:3 income-sharing ratio, Dr. Lin has been asked to join the LLC. Prior to admitting in the assets of Alert Medical were revalued to reflect their current market values. The revaluation resulted in medical equipment being increased by $40,000. Prior to the revaluation, the equity balances for Abrams and Lipscomb were $154,000 and $200,000, respectively a. Provide the journal entry for the asset revaluation. It an amount box does not require an entry, leave it blank. b. Provide the journal entry for the bonus under the following independent situations 1. Un purchased a 30% Interest in Alert Medical, LLC, for $228,000. 17 an amount box does not require an entry, leave it blank III 2. Lin purchased a 25% interest in Alert Medical, LLC, for $120,000. Ban amount hox does not require an entry, nave it blank