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The CDG Carlos, Dan, and Gail Partnership has decided to liquidate as of December 1,206. A balance sheet on the date follows: Additional Information 1.
The CDG Carlos, Dan, and Gail Partnership has decided to liquidate as of December 1,206. A balance sheet on the date follows: Additional Information 1. Each partner's personal assets (excluding partnership capital interests) and personal liabilities as of December 1 , 20X6, follow: 2. Carlos, Dan, and Gail share profits and losses in the ratio 20:40:40. 3. CDG sold all noncash assets on December 10,206, for $260,000. Required: a. Prepare a statement of realization and liquidation for the CDG Partnership on December 10, 20X6. (Do not round your intermediate calculations. Round your final answers to nearest whole dollar.) b. Prepare a schedule of the net worth of each of the three partners as of December 10,2006 , after the liquidation of the partnership is completed assuming that no other events occurred in the 10-day period that changed any of the partners' personal assets and personal liabilities. (Round your answers to the nearest whole dollar.)
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