Partnership Liquidation Schedule Safe Payment Presentation

Partnership Liquidation Schedule Safe Payment Presentation

 
Description



Option #2: Partnership Transactions



PARTNERS IN THE ABCD PARTNERSHIP DECIDED TO DISSOLVE THEIR PARTNERSHIP.  ON THAT DATE, THE PARTNERS HAD THE FOLLOWING PRE-LIQUIDATION CAPITAL BALANCES:



Partner A$28,000Partner B41,000Partner C18,000Partner D12,000



A, B, C, and D share residual profits and losses in a 4:3:2:1 ratio. 



Liabilities at the date of dissolution total $100,000, and noncash assets equal $105,000.  During the first month of liquidation, assets having a book value of $55,000 were sold for $31,000.  During the second month, assets having a book value of $32,000, were sold for $28,000.  During the third month, the remaining unsold assets were determined to be worthless.  The partners receive the maximum allowable payment at the end of each month. 



Submission Requirements:



Part 1: Using the ACT470_Mod08-Portfolio_Option02.xls Excel spreadsheet in the Module 8 folder, prepare an installment liquidation schedule along with supporting safe payment schedules.



Part 2: Prepare a PowerPoint presentation to the partners revealing the results of your accounting work. The presentation should include at least 10 slides. Incorporate a visual of the partnership financials into the presentation.