Solve wrong answers

Question 16 Partially correct Mark 11.43 out of 20.00 p Flag question Edit question Liquidation schedule-positive capital accounts The ABC partnership reports the following condensed balance sheet: Cash $243,000 Liabilities $300,000 Noncash assets 478,000 Partner A capital 168,500 Partner B, capital 168,500 Partner C, capital 84,000 Total assets $721,000 Total liabilities and partner capital $721,000 The partners wish to liquidate the partnership. The noncash assets are sold for $375,000 with the loss distributed to the partners in the ratio of 30%/30%/40% to partner A, B, and C, respectively. The liabilities are paid in full. Prepare a schedule detailing the liquidation of the assets, repayment of the liabilities, and distribution of the remaining cash to the partners. Round answers to the nearest whole number. Use a negative sign with answers that reduce account balances. Liquidation Schedule of ABC Partnership ----Capital Accounts--- A B 84,000 X Capital account prior to liquidation $ Sale of noncash assets 168,500 X $ (30,900) x Cash Noncash Assets Liabilities 243,000 $ 478,000 $300,000 X $ 375,000 (478,000) 0 618,000 0 300,000 X (300,000) 0 (300,000) 318.000 0 0 168,500 x $ (30,900) X 137,600 x (41,200) 137,600 x 42,800 x Payment of creditors 0 0 0 137.600 x 137,600 X 42.800 x 0 0 Distribution to partners Post-liquidation balances (318,000) OS (137,600) X 0$ (137,600) X 0 $ (42,800) 0 $ OS OS