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The partnership of Frick, Wilson, and Clarke has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this

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The partnership of Frick, Wilson, and Clarke 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 Noncash assets 53,000 Liabilities 189,000 Frick, capital (608) Wilson, Clarke, $ 39,000 108,000 30,000 65,000 $242,000 capital capital (20%) (20%) Total assets $242,000 Total liabilities and capital

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