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Statement of Partnership Liquidation After closing the accounts on July 1, prior to liquidating the partnership, the capital
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Gold, Porter, and Sims
Statement of Partnership Liquidation
For the Period Ending July 1-29
Cash Noncash Assets = Liabilities + Capital Gold (3/6) + Capital Porter (2/6) + Capital Sims (1/6)
Balances before realization 43500 73500 31800 27900 39600 17700
Sale of assets and division of loss 58500 -73500 0 -7500 -5000 -2500
Balances after realization 102000 0 31800 20400 34600 15200
Payment of liabilities -31800 0 -31800 0 0 0
Balances after payment of liabilities 70200 0 0 20400 34600 15200
Cash distributed to partners -70200 0 0 -20400 -34600 -15200
Final balances 0 0 0 0 0 0
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