A Base and Zad are sharing income and loss in a 4:3:2 ratio respectively and decided to liquidate their partnership. Prior to the final distribution of cashto the partners. All has a capital balance of $(10,000), Basel has a capital balance of $24,000, and Ziad has a capital balance of $36,000. Also, cashbalance is $50,000. All is NOT able to pay the amount he owes the partnership?Which of the following two journal entries are right to record this liquidation case6,0004,000Basel Capital A OZiad CapitalAll Capital10,00018,000Basel capital32,000Ziad capitalCash50,0004,000Basel Capital BOZiad Capital6,00010,000All Capital18,000Basel capital32,000Ziad capital50,000CashBasel Capital COZlad CapitalAll CapitalBasel capitalZiad capitalCashBasel Capital .D OZiad CapitalAli CapitalBasel capitalZiad capitalCash50,00010,00050,00010,00050,000السؤال 66,0004,00032,00018,0005,0005,00019,00031,000

to the partners All has a capital balance of $(10,000), Basel has a A Base and Ziad are sharing income and loss in a 4:3:2 ratio respectively and decided to liquidate their partnership. Prior to the final distribution of cash capital balance of $24,000, and Ziad has a capital balance of $36,000. Also, cash balance is $50,000. All is NOT able to pay the amount he owes the partnership following two journal entries are right to record this liquidation case

to the partners All has a capital balance of $(10,000), Basel has a A Base and Ziad are sharing income and loss in a 4:3:2 ratio respectively and decided to liquidate their partnership. Prior to the final distribution of cash capital balance of $24,000, and Ziad has a capital balance of $36,000. Also, cash balance is $50,000. All is NOT able to pay the amount he owes the partnership following two journal entries are right to record this liquidation case

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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