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The following condensed balance sheet is for the partnership of A, B, and C, who share profits and losses in the ratio o
Posted: Mon May 30, 2022 6:53 am
by answerhappygod
- The Following Condensed Balance Sheet Is For The Partnership Of A B And C Who Share Profits And Losses In The Ratio O 1 (15.54 KiB) Viewed 27 times
The following condensed balance sheet is for the partnership of A, B, and C, who share profits and losses in the ratio of 4:3:3, respectively: Cash $ 82.000 Accounts payable $ 232,000 43,000 Other assets 760.000 C, loan Hardwick, loan 33,000 A capital 270,000 B, capital 170,000 C. capital 160.000 Total assets $ 875.000 Total liabilities and capital $ 875,000 The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $230,000. Prepare a proposed schedule of liquidation at this point in time