# Statement of Partnership Liquidation After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims are $30,300,$43,200, and $19,200, respectively. Cash, noncash assets, and liabilities total$45,300, $79,800, and$32,400, respectively. Between July 1 and July 29, the noncash assets are sold for $63,600, the liabilities are paid, and the remaining cash is distributed to the partners. The partners share net income and loss in the ratio of 3:2:1. Prepare a statement of partnership liquidation for the period July 1-29. Enter any subtractions (balance deficiencies, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If an amount is zero, enter in "0". Gold, Porter, and Sims Statement of Partnership Liquidation For the Period Ending July 1-29 Cash + Noncash Assets = Liabilities + Capital Gold (3/6) + Capital Porter (2/6) + Capital Sims (1/6) Balances before realization$   $Sale of assets and division of loss + Balances after realization$   $Payment of liabilities Balances after payment of liabilities$   $Cash distributed to partners Final balances$   $Question Statement of Partnership Liquidation After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims are$30,300, $43,200, and$19,200, respectively. Cash, noncash assets, and liabilities total $45,300,$79,800, and $32,400, respectively. Between July 1 and July 29, the noncash assets are sold for$63,600, the liabilities are paid, and the remaining cash is distributed to the partners. The partners share net income and loss in the ratio of 3:2:1.

Prepare a statement of partnership liquidation for the period July 1-29. Enter any subtractions (balance deficiencies, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If an amount is zero, enter in "0".

 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    Sale of assets and division of loss + Balances after realization    Payment of liabilities Balances after payment of liabilities    Cash distributed to partners Final balances