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Turner, Roth, and Lowe are partners who share income and loss in a 14.5 ratio (in percents. Turner, 10%, Roth, 40% and Lowe, 50%). The partners decide to liquidate the partnership Immediately before liquidation, the partnership balance sheet shows total assets, $166,800, total liabilities. $112.000. Turner, Capital, $5.900, Roth, Capital, $15.700; and Lowe, Capital, $33 200 Cash received from selling the assets was sufficient to repay all but $45.000 to the creditors. Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Required Required Required Calculate the loss from selling the assets. Liabilities before liquidation Proceeds from sale of assets (paid to creditors) Remaining liabilities Proceeds from sale of assets Book value of assets sold $ 0 Required B > Turner, Roth, and Lowe are partners who share income and loss in a 145 ratio In percents: Turner, 10% Roth, 40% and Lowe, 50%). The partners decide to liquidate the partnership Immediately before liquidation, the partnership balance sheet shows total assets. $166,800, total liabilities, $112,000. Turner, Capital $5.900, Roth, Capital $15,700, and Lowe Capital, $33.200 Cash received from selling the assets was sufficient to repay all but $45,000 to the creditors Required: a. Calculate the loss from selling the assets b. Allocate the loss from part a to the partners c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Required A Required Required C Allocate the loss from part a to the partners. (Losses and delicts should be indicated with a minus sign) Turner $ 5.900 Roth $15.700 Lowe 5 33.2005 Total 54 000 0 Initial capital balances Allocation of gain (los) Capital balances after gaire closes The following information applies to the questions displayed Turner Roth, and Lowe are partners who share income and loss in a 14.5 ratio (in percents: Tumer, 10% Roth, 40%, and Lowe. 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $166,800, total liabilities. $112,000; Turner, Capital, $5,900, Roth, Capital, $15700, and Lowe, Capital, $33,200. Cash received from selling the assets was sufficient to repay all but $45,000 to the creditors. Required: a Calculate the loss from selling the assets b. Allocate the loss from part a to the partners c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Required A Required B Required Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Turner Total Roth Lowe Amount to be contributed to the partnership

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