After liquidating noncash assets and paying creditors account balances in the Main Co. are Cash $29000 Art Capital (Cr.) $11000 Bob Capital (Cr) $8000 and Cam Capital (Cr.) $10000. The partners share income equally.
Instructions
Journalize the final distribution of cash to the partners.

Question

Quizplus · Accepted Answer

The Answer of After liquidating noncash assets and paying creditors account balances in the Main Co. are Cash $29000 Art Capital (Cr.) $11000 Bob Capital (Cr) $8000 and Cam Capital (Cr.) $10000. The partners share income equally.
Instructions
Journalize the final distribution of cash to the partners.

After Liquidating Noncash Assets and Paying Creditors Account Balances in the Main