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    Problem 6 1

    Uploaded by

    SerdenRose
    1) The document shows the liquidation statement for the partnership of Ester, Edna, Emma, and Eva dated September 30, 2014. 2) It lists the opening balances of cash, other assets, accounts receivable from Ester, and a loan to Eva. 3) Through the sale of assets, payment of liabilities, offsetting of accounts and loans, and additional capital contributions, the closing capital balances for each partner are calculated.

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    Problem 6 1

    Uploaded by

    SerdenRose
    582 views2 pages
    1) The document shows the liquidation statement for the partnership of Ester, Edna, Emma, and Eva dated September 30, 2014. 2) It lists the opening balances of cash, other assets, accounts receivable from Ester, and a loan to Eva. 3) Through the sale of assets, payment of liabilities, offsetting of accounts and loans, and additional capital contributions, the closing capital balances for each partner are calculated.

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    problem-6-1.xlsx

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    1) The document shows the liquidation statement for the partnership of Ester, Edna, Emma, and Eva dated September 30, 2014. 2) It lists the opening balances of cash, other assets, accounts receivable from Ester, and a loan to Eva. 3) Through the sale of assets, payment of liabilities, offsetting of accounts and loans, and additional capital contributions, the closing capital balances for each partner are calculated.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    582 views2 pages

    Problem 6 1

    Uploaded by

    SerdenRose
    1) The document shows the liquidation statement for the partnership of Ester, Edna, Emma, and Eva dated September 30, 2014. 2) It lists the opening balances of cash, other assets, accounts receivable from Ester, and a loan to Eva. 3) Through the sale of assets, payment of liabilities, offsetting of accounts and loans, and additional capital contributions, the closing capital balances for each partner are calculated.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    Ester, Edna, Emma, Eva

    Statement of Liquidation
    30-Sep-14
    Cash Other Assets A/R from Ester Loan
    Eva
    Profit & Loss Ratio
    Balances before 50,000 950,000 62,500 37,500
    Liquidation
    Sales of assets and 500,000 -950,000
    distribution of loss

    Balances 550,000 62,500 37,500

    Payment of Liabilities -450,000

    Balances 100,000 62,500 37,500

    Offset of receivable
    against credit capital -62,500
    balance of Ester

    Balances 100,000 37,500

    Offset of loan against the


    debit balance in the -6,250
    capital of Eva
    Balances 100,000 31,250

    Additional investment of 6,250


    Emma

    Balances 106,250 31,250

    Additional loss to Ester


    due to Edna's insolvency

    Balances 106,250 31,250

    Payment to Partner (or -106,250 -31,250


    Ester)
    va
    on

    Loan Liabilities Capital


    Eva Ester Edna Emma Eva
    4 2 1 1
    37,500 450,000 381,250 93,750 50,000 50,000

    -225,000 -112,500 -56,250 -56,250

    37,500 450,000 156,250 -18,750 -6,250 -6,250

    -450,000

    37,500 156,250 -18,750 -6,250 -6,250

    -62,500

    37,500 93,750 -18,750 -6,250 -6,250

    -6,250 6250

    31,250 93,750 -18,750 -6,250 ---

    6,250

    31,250 93,750 -18,750 --- ---

    -18,750 18,750

    31,250 75,000 ---

    -31,250 -75,000

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