Question: Need help on take home advanced accounting test 3. Complete the Liquidation Schedule below for the following transactions. (12 Points) a) Sold half of the

Need help on take home advanced accounting test

3. Complete the Liquidation Schedule below for the following transactions. (12 Points) a) Sold half of the noncash assets for $90,000. b) Paid all liabilities. c) Sold d) Distributed cash to partners. remaining noncash assets for a $10,000 Loss. ABC Partnership Statement of Realization and Liquidation Debit (Credit) Balances in US Dollars 20% 30% 5096 A.Capital (80,000) B.capital--C.capital (50,000) (30,000) Noncash AssetsLiabilities Cash Balances 60,000 140,000 (40,000)

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