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The unsuccessful partnership of the Jones Brothers is about to undergo liquidation. They have asked you to estimate the amount of cash that each brother

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The unsuccessful partnership of the Jones Brothers is about to undergo liquidation. They have asked you to estimate the amount of cash that each brother will neve. They share profits and losses equally. Cash $22,000 Labilities $39,000 Noncash Assets 116,000 Doug, Capital 52,000 Dave, Capital 55,000 Dan, Capital (8,000) $138.000 $135,000 Both Doug and Dave are personally solvent, but Dan is not. They estimate that they will receive $74,000 from the sale of the noncash assets Prepare a schedule to estimate the amount of cash each brother will receive. (Enter credit balance of an account and credit posting to an account with negative sign preceding the number, e.g. -45 or parentheses, eg, (45).) (1/3) (1/3) Doug Dave Dan -52000 Capital Balance 000 - 55000 42000 42000 42000 Estimated Loss on Sale of Assets -10000 - 13000 50000 -50000 2011 000 Allocate Debit Balance Estimated Cash Payment

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