The partnership of Bauer, Ohtani, and Souza has elected to cease all operations and liquidate its business property. A balance sheet

drawn up at this time shows the following account balances:

Requlred:

Port A

Prepare a predistribution plan for this partnership.

Port B

The following transactions occur in liquidating this business:

Distributed safe payments of cash immediately to the partners. Liquidation expenses of $$8,000$ are estimated as a basis for this

computation,

Sold noncash assets with a book value of $$94,000$ for $$60,000.$

Paid all liabilities.

Distributed safe payments of cash again.

Sold remaining noncash assets for $$51,000.$

Paid actual liquidation expenses of $$6,000$ only.

Distributed remaining cash to the parthers and closed the financial records of the business permanently.

Prepare a final statement of liquidation for this partnership using the predistribution plan to determine payments of cash to partners.

Port $C$

Prepare journal entries to record the liquidation transactions reflected in the final statement of liquidation.

Complete this question by entering your answers in the tabs below.

Part A$.$

Prepare a predistribution plan for this partnership.

Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.

Journal entry worksheet

Record the entry for initial cash payments made to partners in accordance with

predistribution plan.

Note: Enter debits before credits.