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suppose the partnership of Lauren, Alsop, and Brock liquidates by selling all noncash assets for $87,000. Complete the liquidation schedule. cash Noncash assets Liabilities A

suppose the partnership of Lauren, Alsop, and Brock liquidates by selling all noncash assets for $87,000. Complete the liquidation schedule.

cash Noncash assets Liabilities
A

(60%)

B (20%)
C (20%)

Balance before sale of assets 14400 99000 28400 46000 25000 14000

Sale of assets sharing of gain 159000 (99000) 36000 12000 12000

Balances 173400 0 28400 82000 37000 26000

payment of liabilities (28400) (28400)

balances 145000 0 0 82000 37000 26000

payment of cash to partners (145000) (82000) (37000) (26000)

final balance 0 0 0 0 0 0

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Previous Question Next Question

	cash	Noncash assets	Liabilities	A (60%)	B (20%)	C (20%)
Balance before sale of assets	14400	99000	28400	46000	25000	14000
Sale of assets sharing of gain	159000	(99000)		36000	12000	12000
Balances	173400	0	28400	82000	37000	26000
payment of liabilities	(28400)		(28400)
balances	145000	0	0	82000	37000	26000
payment of cash to partners	(145000)			(82000)	(37000)	(26000)
final balance	0	0	0	0	0	0