Question: Problem IV. Prepare the Liquidation schedule in good form: (30 pts.) Judy, Mary, & Sue are partners share profits/losses in a ratio of 4:1:3 Cash

Problem IV. Prepare the Liquidation schedule in good form: (30 pts.) Judy, Mary, & Sue are partners share profits/losses in a ratio of 4:1:3 Cash = $30,000 Non-Cash Assets $75,000 Liabilities $12,000 Capital -Judy $15,000 Capital -Mary $25,000 Capital -Sue $53,000 Pay off all liabilities at 75%, in other words pay off the Liabilities at $0.75 on each dollar owed. Sell off all non-cash assets for $10,000. Any partner deficits will be covered by the remaining partners. Pay off the partner

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