E 17-7
Schedule For Phase-Out of the Partne
Opening Balance
Creditors Recovered from Bev
Amount Realized from Sales of Bev's Personal Net Assets
Debit Balance of Bev Born by Ali and Cal
Amount Reaized From Sales of Ali's Personal Net Assets
Debit Balance of Ali Born by Cal
Distribution of Cash to Cal
E 17-10
Dee, Ema, Lyn, and G
Schedule of Safe Payme
January 31, 2011
Possible Losses
Partner's Equity Jan. 1
January Profit/Loss Transactions:
Inventory Sale
Land Sale
Partner's Equity Jan. 31
Possible Losses - Non-cash
Possible Losses - Contingent
Partner's Equity
Possible Losses - Lyn
Partner's Equity
Possible Losses - Geo
Safe Payments Can Be Made
P 17-6
Jon, Sam, And Tad
Statement of Partners
For the Liquidation Perio
Balances
January 1, 2011
Inventories Sold
Receivables Collections
Pre-Distribution Balance
Cash Distribution to Creditors
Balances January 31, 2011
February 1, 2011
Land Sold
Land and Buildings Sold
Receivables Collections
Balances February 28, 2011
March 1, 2011
Write-off of Furniture & Fixtures
Prredistribution Balance
Cash Distribution:
Creditors
Partners
Balances March 31, 2011
Nicholas Miller
11/1/2024
For Phase-Out of the Partnership
Amount
Ali Bev Cal Total
$ 20,000 $ (120,000) $ 70,000 $ (30,000)
- 30,000 - 30,000
20,000 (90,000) 70,000 -
- 20,000 - 20,000
20,000 (70,000) 70,000 20,000
(35,000) 70,000 (35,000) -
(15,000) - 35,000 20,000
10,000 - - 10,000
(5,000) - 35,000 30,000
5,000 - (5,000) -
- - 30,000 30,000
$ - $ - $ (30,000) $ (30,000)
Dee, Ema, Lyn, and Geo
Schedule of Safe Payments
January 31, 2011
Dee Capital Ema Capital Lyn Capital Geo Capital
Possible Losses 20% 10% 50% 20%
$ 150,000 $ 80,000 $ 140,000 $ 78,000
(6,000) (3,000) (15,000) (6,000)
20,000 10,000 50,000 20,000
164,000 87,000 175,000 92,000
395,000 (79,000) (39,500) (197,500) (79,000)
20,000 (4,000) (2,000) (10,000) (4,000)
81,000 45,500 (32,500) 9,000
(13,000) (6,500) 32,500 (13,000)
68,000 39,000 - (4,000)
(2,667) (1,333) - 4,000
$ 65,333 $ 37,667 $ - $ -
Jon, Sam, And Tad Partnership
Statement of Partnership Liquidaiton
For the Liquidation Period January 1, 2011
Non Cash Accounts Jon Capital Sam Capital
Cash Assets Payable 20% 30%
15,000 215000 80,000 40,000 60,000
20,000 -65,000 -9000 -13500
14,000 -14,000
49,000 136000 80,000 31,000 46,500
-40000 -40,000
9,000 136000 40,000 31,000 46,500
60,000 -40,000 4000 6000
40,000 -70000 -6000 -9000
3,000 -6,000 -600 -900
112,000 20000 40,000 28,400 42,600
-20,000 -4000 -6000
112,000 0 40,000 24,400 36,600
-40,000 -40,000
-72,000 -24,400 -36,600
0 0 0 0
(110,000 - (60,000 +30,000)
(60,000 - 50,000)
All Calculations are Expressed as Excel Formulas
Tad Capital
50%
50,000
-22500
27,500
27,500
All Calculations are Expressed as Excel Formulas
10000
-15000
-1500
21,000
-10000
11,000
-11,000
0
