3. Han, Leia, and Solo partnership is in the process of liquidating and the partners have...
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3. Han, Leia, and Solo partnership is in the process of liquidating and the partners have the following balances: $24,000, $24,000, and ($9,000), respectively. Partners' shares of all profits and losses are 16%, 48%, apd 36%, respectively. Solo has indicated that the ($9,000) deficit will be covered in a forthcoming contribution. The remaining partners have requested to immediately receive $20,000 in cash that is available. How should this cash be distributed? 4. On July 12, 2019, Antioch City ordered a new computer at an anticipated cost of $114,400. The computer was received on July 16, 2019 with an actual cost of $116,220. Payment was subsequently made on August 15, 2019. A) Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Fund Financial Statements B) Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Government-Wide Financial Statements 3. Han, Leia, and Solo partnership is in the process of liquidating and the partners have the following balances: $24,000, $24,000, and ($9,000), respectively. Partners' shares of all profits and losses are 16%, 48%, apd 36%, respectively. Solo has indicated that the ($9,000) deficit will be covered in a forthcoming contribution. The remaining partners have requested to immediately receive $20,000 in cash that is available. How should this cash be distributed? 4. On July 12, 2019, Antioch City ordered a new computer at an anticipated cost of $114,400. The computer was received on July 16, 2019 with an actual cost of $116,220. Payment was subsequently made on August 15, 2019. A) Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Fund Financial Statements B) Prepare all the required journal entries and identify the type of fund in which each entry was recorded for the Government-Wide Financial Statements
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