The trial balance for the ABC Partnership is as follows just before liquidation: $$\begin{array} { l c c c c c c c }
& \text { OTHER } & \text { BALL } & & \text { ADLER } & \text { BALL } & \text { CARL } \
\text { CASH } & \text { ASSETS } & \text { RECEIVABLE }= &\text { LIABILITIES } & \text { CAPITAL } & \text { CAPITAL } & \text { CAPITAL }\
180,000&625,000&90,000&150,000&420,000&270,000&180,000
\end{array}$$
Partners share profits a 50:30:20 ratio.
Required:
Prepare an advance cash distribution plan showing how available cash would be distributed.

Question

The trial balance for the ABC Partnership is as follows just before liquidation: $$\begin{array} { l c c c c c c c } 
& \text { OTHER } & \text { BALL } & & \text { ADLER } & \text { BALL } & \text { CARL } \
\text { CASH }  & \text { ASSETS }  &  \text { RECEIVABLE }= &\text { LIABILITIES } &  \text { CAPITAL } & \text { CAPITAL } & \text { CAPITAL }\
180,000&625,000&90,000&150,000&420,000&270,000&180,000
\end{array}$$ 
Partners share profits a 50:30:20 ratio.
Required:
Prepare an advance cash distribution plan showing how available cash would be distributed.

Quizplus · Accepted Answer

The Answer of The trial balance for the ABC Partnership is as follows just before liquidation: $$\begin{array} { l c c c c c c c } 
& \text { OTHER } & \text { BALL } & & \text { ADLER } & \text { BALL } & \text { CARL } \
\text { CASH }  & \text { ASSETS }  &  \text { RECEIVABLE }= &\text { LIABILITIES } &  \text { CAPITAL } & \text { CAPITAL } & \text { CAPITAL }\
180,000&625,000&90,000&150,000&420,000&270,000&180,000
\end{array}$$ 
Partners share profits a 50:30:20 ratio.
Required:
Prepare an advance cash distribution plan showing how available cash would be distributed.

The Trial Balance for the ABC Partnership Is as Follows