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Turner, Roth, and Lowe are partners who share income and loss in a 2:3.5 ratio in percents: Turner, 20% Roth, 30%; and Lowe, 50%). The

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Turner, Roth, and Lowe are partners who share income and loss in a 2:3.5 ratio in percents: Turner, 20% Roth, 30%; and Lowe, 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $164,400; total liabilities, $110,000; Turner, Capital, $5,700, Roth, Capital, $15,600, and Lowe. Capital, $33,100 Cash received from selling the assets was suficient to repay all but $14,000 to the creditors. Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners. c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency. Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the loss from selling the assets. Liabilities before liquidation Proceeds from sale of assets and to creditors) Remaining liabilities Proceeds from sale of assets Book value of assets sold Required: o. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners. c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Required A Required B Required Allocate the loss from part a to the partners Losses and deficits should be indicated with a mission) Tuner 5.700 Roth 15.000 Lowe 1.100 Total 54400 $ in capitales Noction of an osses) Capital balances agains) (Required A Required> Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners. c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Required A Required B Required Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency. Turner Roth Lowe Total Amount to be contributed to the partnership $

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