The ABC Partnership is in the process of liquidation. The account balances prior to liqu idation are given below: Debits Credits Cash Amos, Drawing Boone, Drawing Childs, Drawing Operating Loss Liquidation Los 72,000 10,000 15,000 20,000 21,000 Liabilities Boone, Loan Childs, Loan Amos, Capital Boone, Capital Childs, Capital 40,000 8,000 25,000 49,000 18,000 10,000 $150,000 $150,000 The partners share profits in the following ratio: Amos, 1/5; Boone, 2/5; Childs, 2/5. Required: Prepare a schedule showing the calculations of the distribution of cash under the Uniform Partnership Act, Cash Distribution Schedule LO3 The ABC Partnership is in the process of liquidation. The account balances prior to liquidation are given below Q EXERCISE 164 Debits Credits $ 72,000 10,000 15,000 20,000 21,000 Cash Amos, Drawing Boone, Drawing Childs, Drawing Operating Loss Liquidation Loss Liabilities Boone, Loan Childs, Loan Amos, Capital Boone, Capital Childs, Capital 40,000 8,000 25,000 49,000 18,000 $150,000 The partners share profits in the following ratio: Amos, 1/5; Boone, 25; Chids, 25. Required: Prepare a schedule showing the calculations of the distribution of cash under the Uniform Partnenhip Ac assuming that all three partners have personal liabilities in excess of their personal assets