The December 31, 2016, balance sheet of the Deng, Danielson, and Gibson partnership, along with the partners' residual profit and loss sharing ratios, is summarized as follows: The partners agree to liquidate their partnership as soon as possible after January 1, 2017 and to distribute all cash as it becomes available.
Required:
Prepare an advance cash distribution plan to show how cash will be distributed as it becomes available.

Question

The December 31, 2016, balance sheet of the Deng, Danielson, and Gibson partnership, along with the partners' residual profit and loss sharing ratios, is summarized as follows:  The partners agree to liquidate their partnership as soon as possible after January 1, 2017 and to distribute all cash as it becomes available.
Required:
Prepare an advance cash distribution plan to show how cash will be distributed as it becomes available.

Quizplus · Accepted Answer

The Answer of The December 31, 2016, balance sheet of the Deng, Danielson, and Gibson partnership, along with the partners' residual profit and loss sharing ratios, is summarized as follows:  The partners agree to liquidate their partnership as soon as possible after January 1, 2017 and to distribute all cash as it becomes available.
Required:
Prepare an advance cash distribution plan to show how cash will be distributed as it becomes available.

The December 31, 2016, Balance Sheet of the Deng, Danielson