a. The partners of Bogor Company have decided to liquidate their business. Non-cash assets were sold for Rs125,000 (amounts in thousands). The income ratios of the partners Kamal, Putra, and Hakim are 3:2:3, respectively. Complete the following schedule of cash payments for Bogor Company.

b. Parsons Company wishes to liquidate the fi rm by distributing the company’s cash to the three partners. Prior to the distribution of cash, the company’s balances are Cash HK$73,000;Meng, Capital (Cr.) HK$47,000; Jeng, Capital (Dr.) HK$14,000; and Fang, Capital (Cr.) HK$40,000 (amounts in thousands). The income ratios of the three partners are 3:3:4, respectively. Prepare the entry to record the absorption of Jeng’s capital defi ciency by the other partners and the distribution of cash to the partners with credit balances.

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Bogor Company Home Insert Page Layout Formulas Data Review View fx P18 Non-cash Cash + Assets Kamal, = Liabilities + Capital Putra, Capital Hakim, Capital Item 2 Balances before liquidation 15,000 90,000 32,000 40,000 20,000 13,000 Sale of non-cash assets 3 and allocation of gain 4 New balances 5 Pay liabilities 6 New balances Cash distribution to partners 8 Final balances 10