Prepare a cash distribution plan for the APB Partnership.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:16-8 Cash Distribution Plan
Adams, Peters, and Blake share profits and
losses for their APB Partnership in a ratio of
2:3:5. When they decide to liquidate, the
balance sheet is as follows:
Liquidation expenses are expected to be
negligible. No interest accrues on loans with
partners after termination of the business.
Required
Prepare a cash distribution plan for the APB
Partnership.
Thats all I have for the question it class is
Advance Financial Accounting
Assets
Liabilities and Equities
Cash
Liabilities
Adams, Loan
Adams, Capital
Other Assets
Peters, Capital
Blakes, Capital
Total Assets
Labilities & Equities
$40,000
10,000
200,000
250,000
$50,000
55,000
75,000
70,000
250,000
Total
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