Question

please show excel formulae and everything in the right format. please I really need to show the formulas

The partnership of Wilson, Cho, and Arrington has the following account information: Capital Share of Profits and Losses Partner Balance Wilson $200,000 40% Cho 180,000 20 Arrington 110,000 40 This partnership will be liquidated, and the partners are scheduled to receive cash equal to any ending positive capital balance. If a negative capital balance results, the partner is expected to contribute that amount. Assume that losses of $50,000 occur during the liquidation followed later by additional and final losses of $100,000. Required 1. Create a spreadsheet to determine the capital balances that remain for each of the three partners after these two losses are incurred. 2. Modify this spreadsheet so that it can be used for different capital balances, different allocation pat- terns, and different liquidation gains and losses.

Answer 1

Partner	Capital Balance	Allocation Pattern	Liquidation Gain/(Loss)
Wilson	$2,00,000	40%	-$1,50,000
Cho	$1,80,000	20%
Arrington	$1,10,000	40%
Partners	Wilson	Cho	Arrington
Opening Capital Balance	$2,00,000	$1,80,000	$1,10,000
Allocation of Gain/(Loss)	-$60,000	-$30,000	-$60,000
Ending Capital Balance	$1,40,000	$1,50,000	$50,000
Cash Receipt by Partners	$1,40,000	$1,50,000	$50,000
Cash Contribution by Partners	$0	$0	$0

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