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    Payment of Liquidation Expenses and Liabilities: Cash Other A/P Alpha's Loan

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    The document shows the liquidation of assets and distribution of funds for a partnership over three months. In January, assets were realized generating funds that were used to pay liabilities and distribute to partners. In February and March, additional assets were liquidated and funds were distributed to pay remaining liabilities and make final payments to partners. By March, all assets had been liquidated and funds fully distributed.

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    Payment of Liquidation Expenses and Liabilities: Cash Other A/P Alpha's Loan

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    33 views3 pages
    The document shows the liquidation of assets and distribution of funds for a partnership over three months. In January, assets were realized generating funds that were used to pay liabilities and distribute to partners. In February and March, additional assets were liquidated and funds were distributed to pay remaining liabilities and make final payments to partners. By March, all assets had been liquidated and funds fully distributed.

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    PARTNERSHIP LIQUIDATION

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    The document shows the liquidation of assets and distribution of funds for a partnership over three months. In January, assets were realized generating funds that were used to pay liabilities and distribute to partners. In February and March, additional assets were liquidated and funds were distributed to pay remaining liabilities and make final payments to partners. By March, all assets had been liquidated and funds fully distributed.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    33 views3 pages

    Payment of Liquidation Expenses and Liabilities: Cash Other A/P Alpha's Loan

    Uploaded by

    unknown
    The document shows the liquidation of assets and distribution of funds for a partnership over three months. In January, assets were realized generating funds that were used to pay liabilities and distribute to partners. In February and March, additional assets were liquidated and funds were distributed to pay remaining liabilities and make final payments to partners. By March, all assets had been liquidated and funds fully distributed.

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    ASSETS ACCOUNTS PAYABLE

    Cash Other A/P Alpha's Loan


    Balance Before Liquidation 10,860 123,740 25,784 16,000
    January Installment
    Realization of Assets and distribution of loss 40,240 49,400
    Balances 51,100 74,340 25,784 16,000
    Payment of Liquidation expenses and liabilities 5,500
    Balances 45,600 25,784 16,000
    Payment of Accounts Payable 25,784 25,784
    Balances 19,816 - 16,000
    Payment to Partners 13,816
    Balances 6,000 74,340 - 16,000
    February Installment
    Realization of Assets and distribution of loss 42,000 66,340
    Balances 48,000 8,000
    Payment of Liquidation expenses and liabilities 3,200
    Balances 44,800 8,000 - 16,000
    Payment to Partners 43,200 16,000
    Balances 1,600 8,000 - -
    March Installments
    Realization of Assets and distribution of loss 7,400 8,000
    Balances 9,000 - - -
    Payment of Liquidation expenses and liabilities 400
    Balances 8,600
    Additional Loss to Partners
    Balances 8,600
    Final Payment to Partners 8,600 - - -
    PARTNER'S CAPITAL
    Alpha 50% Beta 30% Charlie 20% SCHEDULE 1 - JANUARY 2018
    32,804 10,938 49,074
    Capital balance
    4,580 2,748 1,832 Loan Balance
    28,224 8,190 47,242 Total Interest
    2750 1650 1100 Possible Loss (74,340+6,000)
    25,474 6,540 46,142 Balance
    Additional Loss
    25,474 6,540 46,142 Balance
    13,816 Additional Loss
    25,474 6,540 32,326 Balance

    12,170 7,302 4,868 SCHEDULE 2 - FEBRUARY 2018


    13,304 -762 27,458
    1600 960 640 Capital balance
    11,704 -1,722 26,818 Loan Balance
    3,617 23,583 Total Interest
    8,087 -1,722 3,235 Possible Loss (8,000 + 1,600)
    Balance
    300 180 120 Additional Loss
    7,787 -1,902 3,115 Balance
    200 120 80
    7,587 -2,022 3,035
    1,444 -2,022 578
    6,143 0 2,457
    6,143 - 2,457
    Alpha Beta Charlie
    25,474 6,340 46,142
    16,000 - -
    41,474 6,340 46,142
    40,170 24,102 16,068
    1,304 -17,562 30,074
    12,544 - 5,018
    11,240 - 25,056
    - - 11,240
    - - 13,816

    Alpha Beta Charlie


    11,704 -1,722 26,818
    16,000 - -
    27,204 -1,722 26,818
    4,800 2,880 1,920
    22,904 -4,602 24,898
    3,287 - 1,315
    19,617 - 23,583

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