their partnership. share incomes and losses in a 3 2:1 ratio, and on the day...
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their partnership. share incomes and losses in a 3 2:1 ratio, and on the day of liquidation th Th balance sheet appears as follows. their PART V -Swanson, Chapel, and Page plan to liquidate Cash Inventory Total Assets $ 90,400 268,600 $359,000 LIABILITIES AND EQUITY Accounts Payable David Swanson, Capital Annie Chapel, Capital Maria Page, Capital Total Liabilities and Equity $122,750 46,500 106,250 83,500 $359,000 Give in the spaces below the amount of liquidation cash each partner should or pay under each of the unrelated assumptions. Indicate a payment into partnership by circling it; and if a partner should neither pay nor receive oney in the liquidation, place a zero after his name in the spaces provided. Ass his/her capital amount: umption One: Inventory is sold for $160,000 and any partners with a deficit in un deficit, coequently, the partners should pay or receive the following account can and does pay into the partnership the amount of Swanson $ Chapel $ Page $ Assumption Two: Inventory is sold for $125,000 any partners with a deficit in his/her capital account is unable to pay the amount of his deficit, consequent the partners should pay and receive the following amount: Swanson $ Chapel $ Page $
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