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How cash is distributed during entire course of liquidation

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Reference no: EM132574549

Partners A, B, C and D share profits in the ratio of 3:3:1:1, respectively. The following balances are obtained just before partnership liquidation:

                                                          A                      B                     C                     D

Capital balances                                   70,000           70,000           30,000      20,000

Loan balances                                      20,000             5,000              25,000    15,000

Proceeds from the sale of partnership assets during March and April by the one in charge of liquidation and distribution of cash to partners at the end of each month are as follows:

                       Cash Realized              Cash Distributed                  Cash Withheld

March                 40,000                            25,000                            15,000

April                        35,000                           40,000                              10,000

Requirements:

Question 1. Show how cash is distributed during the entire course of liquidation.

Question 2. Using the program above, how is the schedules summarizing the payments to be made to partners at the end of March and April?

Reference no: EM132574549

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