Question: CAM -Question Completion Status Ali, Basel and Ziad are sharing income and loss in a 4.3.2 ratio respectively and decided to liquidate their partnership. Prior
CAM -Question Completion Status Ali, Basel and Ziad are sharing income and loss in a 4.3.2 ratio respectively and decided to liquidate their partnership. Prior to the final distribution of cash to the partners, All has a capital balance of $30,000), Basel has a capital balance of $72,000, and Ziad has a capital balance of $108,000 Also, cash balance is $150,000. All is NOT able to pay the amount he owes the partnership. Which of the following two journal entries are right to record this liquidation case? OA Basel Capital Ziad Capital 18.000 12.000 30.000 Basel capital 96.000 ad capital Cash 14.000 150.000 Basel Capital 12.000 Ziad Capital 18.000 50.000 Basel capital 54.000 $4.000 ad capital Cash 150.000 Casal Capital 18.000 Ziad Capital 12,000 30,000 Basal capital 54,000 ad capital 95.000 150.000 11.000 ad Capital 45.000 30 400 57.000 Geset capital Ziad capital Cash $1.000 140 000 All Capital All Capital Al Capital All Capital
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