The following are the final conditions of the ABC Partnership before being liquidated due to a dispute between partners in the partnership:Partnership ABC

Instructions:

1. Make a cash payment schedule

2. Journalize each transaction!

3. If you want to establish a partnership, what line of business will you choose, who will you collaborate with, and what is the composition of capital and profit sharing that will be agreed upon? Explain why.

4. Why a partner has a capital deficiency. Explain

Statement of Financial Position May 30, 2021 (in thousands of Rp) Assets Liabilities and Owners'Equity Cash Rp 30.000 Notes payable Rp 20.000 Account 25.000 Account payable 30.000 receivable Allowance for (2.000) Wages payable 2.500 doubtful accounts Merchandise 35.000 A, Capital 28.000 Inventory Equipment 20.000 B, Capital 13.650 Accumulated (8.000) C, Capital 5.850 depreciation- equipment Total Rp 100.000 Total Rp 100.000 Each partner has agreed to share the profit and loss in a 5:3:2 ratio. During the liquidation process, the transactions were completed as follows:Hasil penjualan aktiva non kas sebesar Rp 57.000.000,- 1. Gain and Loss on the realization are allocated to each partner 2. Debt paid in full 3. Partners who have a deficiency are willing to pay cash for their lack of capital. Statement of Financial Position May 30, 2021 (in thousands of Rp) Assets Liabilities and Owners'Equity Cash Rp 30.000 Notes payable Rp 20.000 Account 25.000 Account payable 30.000 receivable Allowance for (2.000) Wages payable 2.500 doubtful accounts Merchandise 35.000 A, Capital 28.000 Inventory Equipment 20.000 B, Capital 13.650 Accumulated (8.000) C, Capital 5.850 depreciation- equipment Total Rp 100.000 Total Rp 100.000 Each partner has agreed to share the profit and loss in a 5:3:2 ratio. During the liquidation process, the transactions were completed as follows:Hasil penjualan aktiva non kas sebesar Rp 57.000.000,- 1. Gain and Loss on the realization are allocated to each partner 2. Debt paid in full 3. Partners who have a deficiency are willing to pay cash for their lack of capital