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The partnership $of$ Bauer, Ohtani, and Souza has elected $to$ cease all operations and liquidate its business property. A balance sheet drawn $upat$ this time shows the following account balances:

Required:

Part $A$

Prepare a predistribution plan for this partnership.

Part $B$

The following transactions occur $in$ liquidating this business:

$1.$ Distributed safe payments $of$ cash immediately $to$ the partners. Liquidation expenses $of\frac{?}{(\frac{?}{?}\text{\$}8,000\frac{?}{?})}$ are estimated $as$ a basis for this computation.

$2.$ Sold noncash assets with a book value $of\frac{?}{(\frac{?}{?}\text{\$}94,000\frac{?}{?})}$ for $\frac{?}{(\frac{?}{?}\text{\$}60,000\frac{?}{?}).}$

$3.$ Paid all liabilities.

$4.$ Distributed safe payments $of$ cash again.

$5.$ Sold remaining noncash assets for $\frac{?}{(\frac{?}{?}\text{\$}51,000\frac{?}{?}).}$

$6.$ Paid actual liquidation expenses $of\frac{?}{(\frac{?}{?}\text{\$}6,000\frac{?}{?})}$ only.

$7.$ Distributed remaining cash $to$ the partners and closed the financial records $of$ the business permanently.

Prepare a final statement $of$ liquidation for this partnership using the predistribution plan $to$ determine payments $of$ cash $to$ partners.

Part $C$

Prepare journal entries $to$ record the liquidation transactions reflected $in$ the final statement $of$ liquidation.

$\begin{array}{cc}\text{P}\text{a}\text{r}\text{t}A& \text{P}\text{a}\text{r}\text{t}C\end{array}$ Part $C$

Prepare journal entries $to$ record the liquidation transactions reflected $in$ the final statement $of$ liquidation.

PLEASE FILL $IN$ ATTACHED TABLES $IN$ THE SAME FORMAT AND CREATE JOURNAL ENTRIES.

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