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Unformatted text preview: Final balances 2. ALLEN, DEE, AND ITO Statement of Partnership Liquidation For the Period October 1 - 30, 2008 Noncash Allen Cash + Assets = Liabilities + (2/5) + Balances before realization Sale of assets and division of loss Balances after realization Payment of liabilities Balances after payment of liabilities Receipt of deficiency Balances Cash distributed to partners Final balances Capital Dee Ito (2/5) + (1/5) Capital Dee Ito (2/5) + (1/5)...
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This note was uploaded on 03/12/2011 for the course ACCT 2011 taught by Professor Field during the Fall '09 term at University of Minnesota Morris.
- Fall '09