Statement of Partnership Liquidation After closing the accounts on July 1, prior to liquidating the partnership,...

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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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	Cash	Non Cash Asset	Liabilities	Gold, Capital	Porter, Capital	Sims, Capital
Balances before realization	$ 69,300	$ 118,500	$ 50,400	$ 45,000	$ 63,900	$ 28,500
Sales of assets and division of loss	$ 94,500	$ (118,500)	$ -	$ (12,000)	$ (8,000)	$ (4,000)
Balance after realization	$ 163,800	$ -	$ 50,400	$ 33,000	$ 55,900	$ 24,500
Payment of liabilities	$ (50,400)	$ -	$ (50,400)	$ -	$ -	$ -
Balances after payment of liabilities	$ 113,400	$ -	$ -	$ 33,000	$ 55,900	$ 24,500
Cash distributed to partner	$ (113,400)	$ -	$ -	$ (33,000)	$ (55,900)	$ (24,500)
Final balances	$ -	$ -	$ -	$ -	$ -	$ -

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