The partners of Pharoah Company have decided to liquidate their business. Noncash assets were sold for...

  

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The partners of Pharoah Company have decided to liquidate their business. Noncash assets were sold for $124,900. The income ratios of the partners Cisneros, Gunselman, and Forren are 3:2:3, respectively. Complete the following schedule of cash payments for Pharoah Company. (If an amount reduces the account balance then enter with a negative sign preceding the numbereg-15,000 or parenthesis eg. (15,000).) Item Cash Noncash Assets Llabil Balance before liquidation $14,100 $91,300 Sale of noncash assets and allocation of gain New balances Pay llabilities New Balances Cash distribution to partners Final balances Question 11 of 26 -/1 E The partners of Pharoah Company have decided to liquidate their business. Noncash assets were sold for $124,900. The income ratios of the partners Cisneros, Gunselman, and Forren are 3:2:3, respectively. Complete the following schedule of cash payments for Pharoah Company. (f an amount reduces the account balance then enter with a negotive slgn preceding the number eg -15,000 or parenthests eg. (15,000J Liabiltles Cisneros Capltal Forren Capital Gunselman Capital $36,000 $23,000 $33,000 $13,400 The partners of Pharoah Company have decided to liquidate their business. Noncash assets were sold for $124,900. The income ratios of the partners Cisneros, Gunselman, and Forren are 3:2:3, respectively. Complete the following schedule of cash payments for Pharoah Company. (If an amount reduces the account balance then enter with a negative sign preceding the numbereg-15,000 or parenthesis eg. (15,000).) Item Cash Noncash Assets Llabil Balance before liquidation $14,100 $91,300 Sale of noncash assets and allocation of gain New balances Pay llabilities New Balances Cash distribution to partners Final balances Question 11 of 26 -/1 E The partners of Pharoah Company have decided to liquidate their business. Noncash assets were sold for $124,900. The income ratios of the partners Cisneros, Gunselman, and Forren are 3:2:3, respectively. Complete the following schedule of cash payments for Pharoah Company. (f an amount reduces the account balance then enter with a negotive slgn preceding the number eg -15,000 or parenthests eg. (15,000J Liabiltles Cisneros Capltal Forren Capital Gunselman Capital $36,000 $23,000 $33,000 $13,400

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Schedule of cash payments Item Cash Non cash asssets Liabilities Cisnerors capital Gunsel... View the full answer