Function: SUM: Formula: Nultiply, DWide, Add; Cell Referencing

Whing Excel to Account For a Partnershly Uguldation

PROBLEM

The partners of MIT Company hawe decided to liquidate their partnership. Information concerning The MII Company is presented here.

Selling price of noncash assets $,$$$1,15,000$

Profit and loss ratios

Morin

Inelis

Tore?

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated.

Complete the following schedule of cash payments for MIT Company. Designate decreases as negative amounts.

$\backslash$table$[[,,$Cash,Noncash Assets,Liabilities,Morin, Capital,Ingils, Capital,Torez, Capital$],[$Balances before liquidation,$$,25,000,$$ $80,000,$$ $50,000,5,5,5],[$Sale of non cash assets and,,$1,15\mathrm{.}000*,35,000{?}^b,,10,500*,7\mathrm{.}000*,10\mathrm{.}500*],[$New balances,,,,,,,$],[$Payliabilities$,,,,,,,],[$New balances,,$7,$v$,,,,,],[$Cash distribution to partners,,$,,,-,*,$v$],[$Final balances,,$,,,*,,*]]$

Enter Answer