Question: please dont copy paste from chegg tey are wrong. please the question and solve it. thank you = The partnership of Wingler, Norris, Rodgers, and

 please dont copy paste from chegg tey are wrong. please thequestion and solve it. thank you = The partnership of Wingler, Norris,

please dont copy paste from chegg tey are wrong. please the question and solve it. thank you

= The partnership of Wingler, Norris, Rodgers, and Guthrie was formed several years ago as a local architectural firm. Several partners have recently undergone personal financial problems and have decided to terminate operations and liquidate the business. The following balance sheet is drawn up as a guideline for this process: Cash Accounts receivable Inventory Land Building and equipment (net) Total assets $ 45,000 112,000 131,000 100,000 183,000 $571,000 When the liquidation commenced, liquidation expenses of $18,000 were anticipated as being necessary to dispose of all property. Part A Prepare a predistribution plan for this partnership. Part B The following transactions transpire during the liquidation of the Wingler, Norris, Rodgers, and Guthrie partnership: 1. Collected 90 percent of the total accounts receivable with the rest judged to be uncollectible. 2. Sold the land, building, and equipment for $165.000. 3. Distributed safe payments of cash. 4. Learned that Guthrie, who has become personally insolvent, will make no further contributions. 5. Paid all liabilities. Prepare journal entries to record these liquidation transactions. Beginning balances Assumed loss of Schedule 1 Step one balances Assumed loss of Schedule 2 Step two balances Assumed loss of Schedule 3 Step three balances 6. Sold all inventory for $75,000. 7. Distributed safe payments of cash again. 8. Paid actual liquidation expenses of $12,000 only. 9. Made final cash disbursements to the partners based on the assumption that all partners other than Guthrie are personally solvent. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a predistribution plan for this partnership. (Do not round intermediate calculations.) Rodgers, Loan and Capital $ Wingler, Norris, Capital Capital $ Liabilities Rodgers, loan Wingler, capital (30%) Norris, capital (18%) Rodgers, capital (20%) Guthrie, capital (40%) Total liabilities and capital $ 0 S 0 $ 0 S 0 $ 0 $ 0 $ Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries to record these liquidation transactions. (Do not round intermediate calculations. Round the final answers to nearest dollar amounts. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list i T No 1 2 3 4 5 6 7 8 9 10 Transaction 01 02 03 04 05 06 07 08 9.a 9.b View journal entry worksheet Guthrie, Capital Norris, Capital Rodgers, Capital Wingler, Capital Cash Accounts receivable Cash Wingler, Capital Norris, Capital Rodgers, Capital Guthrie, Capital Land Building and equipment Rodgers, Loan Norris, Capital Rodgers, Capital Wingler, Capital Cash No journal entry required Liabilities Cash Cash Guthrie, Capital Norris, Capital Rodgers, Capital Wingler, Capital Inventory Norris, Capital Rodgers, Capital Wingler, Capital Cash Guthrie, Capital Norris, Capital Rodgers, Capital Wingler, Capital Cash Norris, Capital Rodgers, Capital Wingler, Capital Guthrie, Capital General Journal Norris, Capital Rodgers, Capital Wingler, Capital Cash Debit Credit X

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