cash distribution plan for the APB Partnership Accounting Assignment

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Adams, Peters, and Blake share profits and losses for their APB Partnership in a ratio of 2:3:5. When they decide to liquidate, the balance sheet is as follows:

Assets

Liabilities and Equities

Cash

40,000

Liabilities

50,000

Adam, Loan

10,000

Adams, Capital

55,000

Other Assets

200,000

Peters, Capital

75,000

Blake, Capital

70,000

Total Assets

250,000

Total Liabilities & Equities

250,000

Liquidation expenses are expected to be negligible. No interest accrues on loans with partners after termination of the business

Required:

Prepare a cash distribution plan for the APB Partnership

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