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Unformatted text preview: 2. STREET, RHODES, AND FLYNN Statement of Partnership Liquidation For the Period June 3 - 29, 2008 Noncash Street Cash + Assets = Liabilities + (1/5) + 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 Rhodes Flynn (2/5) + (2/5) Capital Rhodes Flynn (2/5) + (2/5)...
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- Fall '09