<\/p>\n
Partners in the ABCD Partnership decided to dissolve their partnership. On that date, the partners had the following pre-liquidation capital balances:<\/p>\n
Partner A<\/strong><\/td>\n| $28,000<\/strong><\/td>\n<\/tr>\n | Partner B<\/strong><\/td>\n | 41,000<\/strong><\/td>\n<\/tr>\n | Partner C<\/strong><\/td>\n | 18,000<\/strong><\/td>\n<\/tr>\n | Partner D<\/strong><\/td>\n | 12,000<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n | A, B, C, and D share residual profits and losses in a 4:3:2:1 ratio. <\/p>\n Liabilities at the date of dissolution total $100,000, and noncash assets equal $105,000. During the first month of liquidation, assets having a book value of $55,000 were sold for $31,000. During the second month, assets having a book value of $32,000, were sold for $28,000. During the third month, the remaining unsold assets were determined to be worthless. The partners receive the maximum allowable payment at the end of each month. <\/p>\n Submission Requirements:<\/strong><\/p>\n Part 1: <\/strong>Using the ACT470_Mod08-Portfolio_Option02.xls Excel spreadsheet in the Module 8 folder, prepare an installment liquidation schedule along with supporting safe payment schedules.<\/p>\n Part 2<\/strong>: Prepare a PowerPoint presentation to the partners revealing the results of your accounting work. The presentation should include at least 10 slides. Incorporate a visual of the partnership financials into the presentation. <\/p>\n |