Question: Liquidating Partnership Distributions. ABCD Partnership decided to liquidate. The Balance Sheet at that time was: Cash $40.000 Liabilities $210.000 Other Assets $900.000 A. Capital 500.000

Liquidating Partnership Distributions. ABCD Partnership decided to liquidate. The Balance Sheet

Liquidating Partnership Distributions. ABCD Partnership decided to liquidate. The Balance Sheet at that time was: Cash $40.000 Liabilities $210.000 Other Assets $900.000 A. Capital 500.000 B. Capital 110.000 C. Capital 90,000 D. Capital 30,000 The partners share profits and losses 4:2:1:1 respectively, Prepare a cash distribution schedule. of Dmceived a total of $5,000 from the liquidation, how much were other assets sold for? Assume that a total of $200,000 has already been distributed to partners during the liquidation process. Ifanother$150.000 becomes available, prepare the journal entry to distribute the 150.000 cash

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