财务会计英语ch13.pptVIP

Alternative Forms of Business Entities Liquidating Partnerships The remaining cash, $74,000, is paid to each partner in accordance with the partner’s capital balance. Gain on Realization Liquidating Partnerships Left side of statement Noncash Cash Assets Liabilities Balance before realization $11,000 $64,000 $9,000 Sale of assets and division of gain +72,000 –64,000 — Balance after realization $83,000 $ 0 $9,000 Payment of liabilities –9,000 — –9,000 Balance after payment $74,000 $ 0 $ 0 Partners’ cash distributed –74,000