91Ó°ÊÓ

Heinz, Dicer, and Ho are partners sharing income \(3: 2: 1\). After the firm's loss from liquidation is distributed, the capital account balances were: Heinz, \(\$ 18,000\) Dr.; Dicer, \(\$ 70,000\) Cr.; and Ho, \(\$ 45,000 \mathrm{Cr}\). If Heinz is personally bankrupt and unable to pay any of the \(\$ 18,000\), what will be the amount of cash received by Dicer and Ho upon liquidation?

After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Dills, Gordon, and Chavez are \(\$ 32,000, \$ 40,000\), and \(\$ 15,000\), respectively. Cash, noncash assets, and liabilities total \(\$ 42,000, \$ 90,000\), and \(\$ 45,000\), respectively. Between July 1 and July 29 , the noncash assets are sold for \(\$ 66,000\), the liabilities are paid, and the remaining cash is distributed to the partners. The partners share net income and loss in the ratio of \(3: 2: 1\). Prepare a statement of partnership liquidation for the period July 1-29.