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The partners of Blossom Company have decided to liquidate their business. Noncash assets were sold for $ 130,900. The income ratios of the partners Cisneros,

The partners of Blossom Company have decided to liquidate their business. Noncash assets were sold for $ 130,900. The income ratios of the partners Cisneros, Gunselman, and Forren are 3 : 2 : 3, respectively. Complete the following schedule of cash payments for Blossom Company. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).)

Item

Cash

+

Noncash Assets

=

Liabilities

+

Cisneros Capital

+

Gunselman Capital

+

Forren Capital

Balance before liquidation

$ 15,000

$ 97,500

$ 49,500

$ 19,000

$ 31,900

$ 12,100

Sale of noncash assets and allocation of gain
New balances
Pay liabilities
New Balances
Cash distribution to partners
Final balances

$

$

$

$

$

$

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