Page 77 - Demo

%u062c%u0645%u064a%u0639 %u0627%u0644%u062d%u0642%u0648%u0642 %u0645%u062d%u0641%u0648%u0638%u0629 %u0640 %u0627%u0625%u0644%u0639%u062a%u062f%u0627%u0621 %u0639%u0644%u0649 %u062d%u0642 %u0627%u0644%u0645%u0624%u0644%u0641 77 %u0628%u0627%u0644%u0646%u0633%u062e %u0623%u0648 %u0627%u0644%u0637%u0628%u0627%u0639%u0629 %u064a%u0639%u0631%u0636 %u0641%u0627%u0639%u0644%u0647 %u0644%u0644%u0645%u0633%u0627%u0626%u0644%u0629 %u0627%u0644%u0642%u0627%u0646%u0648%u0646%u064a%u0629Exercise (1):The partnership of A & B & C was liquidated on July 1, 2016. The partnership balance sheet on July 1, 2019 was as follows:Cash 10,000 Salaries Payable (5 Months) 80,000Non-Cash Assets 290,000 Accounts Payable 20,000Capital (A) 100,000Capital (B) 20,000Capital (C) 80,000If the partners agreed to liquidate the Company. If you know that: They share Profit & Loss on a ratioof 30%:30%:40%The Liquidator sold Non-Cash assets for $310,000The company paid liquidation expenses of $5,000Required:1. Prepare the Liquidation Table (Statement). 2. Prepare the Liquidation EntriesExercise (2):A & B are two partners in a Partnership. They share Profit & Loss on a ratio of 70%: 30%. They agree to liquidate the partnership. The Balance sheet of the Partnership at the date of the liquidation was as follows:Cash 20,000 liabilities 50,000Non-Cash Assets 120,000Capital (A) 40,000Capital (B) 50,000the partners agreed to liquidate the Company. If you know that:The Liquidator sold Non-Cash assets for $102,000 , knowing that these assets included Land of B.V $60,000 and sold for $45,000.The Liabilities included Secured Loan of $40,000 guaranteed by the Land.The company paid liquidation expenses of $10,000The Creditors of the loan decided to give the company a discount on $15,000.Required:1. Prepare the Liquidation Table (Statement). 2. Prepare the Liquidation Entries(3) The balance sheet of ABC Partnership before liquidation includes $50,000 Salaries Payable and $60,000 Rent Payable and $40,000 A/P. if the monthly Salary is $5,000 and monthly Rent is $1,000. Then the Liabilities included in the Liquidation Statement at the beginning of Liquidation should be classified as follows: a) Ordinary Liabilities $150,000b) Preferred Liabilities $150,000c) Ordinary Liabilities $40,000 and Preferred Liabilities $110,000d) Ordinary Liabilities $70,000 and Preferred Liabilities $80,000e) Ordinary Liabilities $96,000 and Preferred Liabilities $54,00075