David Oliver and Umar Ansari, with capital balances of $62,000 and $84,000, respectively, decide to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is $183,000 of cash remaining. If the partners share income and losses equally, how should the cash be distributed? If an amount is zero, enter in "0".   Oliver and Ansari Distribution of Cash   Oliver Ansari Total Capital balances before realization $62,000 $84,000 $146,000 Division of gain on realization fill in the blank  fill in the blank    Capital balances after realization $fill in the blank  $fill in the blank    Cash distributed to partners fill in the blank  fill in the blank    Final balances $fill in the blank  $fill in the blank

Liquidating Partnerships Prior to liquidating their partnership, Fowler and Ericson had capital accounts of $26,000 and $51,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $93,000. The partnership had $4,000 of liabilities. Fowler and Ericson share income and losses equally. Determine the amount received by Fowler as a final distribution from liquidation of the partnership.$fill in the blank 1

Do not give answer in image

Save Answer Quèstion 7 he remaining A, B and C are partners and sharing income and loss in a 3:2:1 ratio respectively. They decided to liquidate the partnership. Before the final distributic cash to the partners, A has a capital balance of $ (30,000), B has a capital balance of $72,000 and C has a capital balance of $48,000. Cash balance is 90,000. A pald the amount he owes 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+F1O (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt 三v ... O WORDS POWERED BY TINY

contribute any personal assets to cover it. Problem #13 Dreparation of Journal Entries for Partnership Liquidation Tugade, Masinsin and Biore are all famous athletes who have been operating a sports memorabilia store for many years. The partnership decided to liquidate its operation rather than sell the business because they are each about to retire and want to go their separate ways. They have been sharing profits in the ratio of 40% to Tugade, 40% to Masinsin, and 20% to Biore. The trial balance for their business on Jan. 1, 2019 follows: Trial Balance January 1, 2019 Cash P 42,000 Accounts Receivable 189,600 Allowance for Uncollectible Accounts P. 11,100 Merchandise Inventory 293,100 9,000 120,000 31,500 Prepaid Insurance Land Office Equipment Accu. Depreciation-Office Equipment Machinery Accu. Depreciation-Machinery Building Accu. Depreciation-Building Notes Payable Accounts Payable 10,500 81,600 32,100 375,000 112,500 120,000 220,500 240,000 Mortgage Payable Tugade, Capital…

Please do not give solution in image format thanku

2017January 1 – The partners decide to liquidate the partnership. They have the following balances:Cash $90,000Accounts Receivable $6500Equipment $ 120000Accumulated Depreciation $ 35000Accounts Payable $ 6500The partners were able to collect $9500 of the accounts receivable and sell the equipment for $79000. a) Record all journal entries to dissolve the partnership.