Question: PLease Please do not copy paste from check. I tried they are not the same. Please solve this Alex and Bess have been in partnership

 PLease Please do not copy paste from check. I tried they

PLease are not the same. Please solve this Alex and Bess have been

in partnership for many years. The partners, who share profits and losses

Please do not copy paste from check. I tried they are not the same. Please solve this

Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 70:30 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $4,000. At the date the partnership ceases operations, the balance sheet is as follows: Cash Noncash assets Total assets $ 45,000 105,000 Liabilities Alex, capital Bess, capital $ 150,000 Total liabilities and capital Part A: Prepare journal entries for the following transactions that occurred in chronological order: a. Distributed safe cash payments to the partners. b. Paid $20,700 of the partnership's liabilities. c. Sold noncash assets for $115,500. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $13,800. f. Paid $2,900 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. Part B: Prepare a final statement of partnership liquidation. Complete this question by entering your answers in the tabs below. Required A Required B $ 34,500 73,500 42,000 $ 150,000 Prepare journal entries for the following transactions that occurred in chronological order: (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Distributed safe cash payments to the partners. b. Paid $20,700 of the partnership's liabilities. c. Sold noncash assets for $115,500. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $13,800. f. Paid $2,900 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. View transaction list No 1 2 3 4 5 6 7 Transaction a b C. d. e. f. g. View journal entry worksheet Bess, Capital Cash Liabilities Cash Cash Noncash assets Alex, Capital Bess, Capital Bess, Capital Alex, Capital Cash Liabilities Cash Alex, Capital Bess, Capital Cash Alex, Capital Bess, Capital Cash General Journal Debit 6,000 Credit 4,000 Sho Complete this question by entering your answers in the tabs below. Required A Required B Prepare a final statement of partnership liquidation. (Amounts to be deducted should be entered in minus sign.) Beginning balances Distribution to partners Paid liabilities Sold noncash assets Updated balances Distribution to partners Updated balances Paid liabilities Paid liquidation expenses Updated balances Distribution to partners Closing balances ALEX AND BESS PARTNERSHIP Statement of Partnership Liquidation Cash Non-cash Assets

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