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:

Cash $ $64,000$ Liabilities $ $44,000$

Noncash assets $225,000$ Bauer, capital $(60\%)132,000$

Ohtani, capital $(20\%)36,000$

Souza, capital $(20\%)77,000$

Total assets $ $289,000$ Total liabilities and capital $ $289,000$

Required:

Part A

Prepare a predistribution plan for this partnership.

There is no more information available this is the question.The partnership of Bauer, Ohtanl, and Souza has elected to cease all operations and IIquidate Its business property. A balance sheet

drawn up at this time shows the following account balances:

Required:

Part A

Prepare a predistribution plan for this partnership.

Part B

The following transactions occur in liquidating this business:

Distributed safe payments of cash Immedlately to the partners. LIquidation expenses of $$9,000$ are estimated as a basis for this

computation.

Sold noncash assets with a book value of $$96,000$ for $$64,000.$

Pald all llabilitles.

Distributed safe payments of cash agaln.

Sold remalning noncash assets for $$52,000.$

Pald actual liquidation expenses of $$7,000$ only.

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

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

Part C

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

Answer is not complete.

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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.