newconnectrnheducation.corn/flow/connect.html 12 Partnership Liquidation Help Save Required information Qs 12-9 Liquidation of partnership LO P5 /The following information applies to the questions displayed belowj The Field, Brown & Snow partnership was begun with investments by the partners as follows: Field, $130,000, Brown, $167.400; and Snow, $153,300. The operations did not go well, and the partners eventually decided to liquidate the partnership, sharing all losses equally. On May 31, after all assets were converted to cash and all creditors were paid, only $43,300 in partnership cash remained. QS 12-9 Part 1 1. Compute the capital account balance of each partner after the liquidation of assets and the payment of creditors. (Amounts to be deducted and negative capital balances should be entered with a minus sign.) Field Brown Snow Total Initial investments Allocation of gains (losses) Capital balances CD Prev 1 2 3 of 5 arch