Question: to complete this assessment. Question 12 3 points Ameera, Batool and Zahra are sharing income and loss in a 4:3:2 ratio respectively and decided to

to complete this assessment. Question 12 3 points Ameera, Batool and

to complete this assessment. Question 12 3 points Ameera, Batool and Zahra are sharing income and loss in a 4:3:2 ratio respectively and decided to liquidate their partnership. Prior to the final distribution of cash to the partes de capital balance of S(10,000), Batool has a capital balance of $24.000, and Zahra has a capital balance of $36,000. Also, cash balance is $50,000. Ameera is NOT able to pay the most the partnership Required: Prepare journal entries to record the above liquidation process. YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM: DO NOT USE" BETWEEN NUMBERS: Dr. Cash 100000 Cr. Land 100000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI Paragraph Arial 14px V A

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Question 12 points Amora, Batool and here come and low in a 432 ratio pectively and decided to late the prop Pro to the final distribution of ch to the partner. Amela capital balance of C70,000)....

V14 Question 12 3 points Ameera, Batool and Zabra we sharing income and low in a 432 ratio respectively and decided to liquidate their partnership. Prior to the final distribution of cath to the...

question 71 uestion 7 3 points Ameera, Batool and Zahra are sharing income and loss in a 432 ratio respectively and decided to liquidate their putershap Prior to the final distribution of cash to the...

2 Puestion 5 3 points Ameera Batool and Zahra are sharing income and loss in a 4:32 ratio respectively and decided to liquidate their partnership Prior to the final distribution of cash to the paren....

Question 2012 Question 2 3 points Ameers, Batool and Zahra are sharing income and loss in a 4:3 2 ratio respectively and decided to liquidate their parti. Prior to the final distribution of cash to...

Brothers partnership allows Hamad to sell his BD 190,000 equity in the partnership to Salman and Salman pays Ahed 20.000 What is the correct journal entry to record the sell of interest? an 3 points...

Question 2 of 12 Moto other question will be the respome. Question 2 3 points Ameera Batool and sharing income and lots in a 432 rato respectively and decided to date the partnership Prior to the...

response estion 2 Amora, Batool and Zahra are sharing income and low in a 432 ratio respectively and decided to take the balance of S(20,000) Batool lus a capital balance of $18,000, and she is a...

Moving to another question will save this response Question 8 points Ameera, Batool und Zahra are sharing income and loss in 2 tato respectively and decided to guide the path of the compact, has a...

Moving to another question will save this response Question 2 Ameera Batool and Zahra are sharing, mcome and lots in 432 balance of $(10,000). Batool has a capital balance of $2A300, Zakop...

Explain the application of the revaluation model for intangible assets .

B wrote S, his sister, to sell his parcel of land. The land was purchased by X, but S did not forward the money to B. Now, B wants to recover the parcel of land. Is the sale valid? Why? Can B recover...

A homeowners insurance policy is issued for $ 2 0 0 , 0 0 0 . After the home was destroyed, the insured's expense to rebuild added up to $ 1 5 0 , 0 0 0 . The insurance policy will reimburse the...

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

Discuss five strategies to protect employees from workplace violence.

Analyze five employment laws and their importance to the healthcare workplace.

Identify five strategies to prevent workplace bullying.