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ABC PARTNERSHIP

STATEMENT OF FINANCIAL POSITION


APRIL 30, 2014
ASSETS

LIABILITIES & CAPITAL

CASH
NON CASH ASSETS

10,000.00
100,000.00

TOTAL ASSETS

110,000.00

LIABILITIES
A, CAPITAL
B, CAPITAL
C, CAPITAL
TOTAL LIABILITIES & CAPITAL

ASSETS WERE REALIZED AT 40,000


P & L RATIO- EQUAL SHARING

A
B
C

PERSONAL ASSETS
100,000.00
50,000.00
5,000.00

PERSONAL LIABILITIES
25,000.00
###
60,000.00

PREPARE A STATEMENT OF LIQUIDATION FOR THE PERIOD MAY 1-31, 2014


PREPARE THE ENTRIES TO RECORD THE LIQUIDATION TRANSACTIONS

60,000.00
5,000.00
15,000.00
30,000.00
110,000.00

ABC PARTNERSHIP
STATEMENT OF LIQUIDATION
MAY 1-31, 2014
CASH

NON CASH
ASSETS

BALANCES BEFORE
LIQUIDATION

10,000.00

100,000.00

REALIZATION AND
DISTRIBUTION OF LOSS
BALANCES

40,000.00
50,000.00

(100,000.00)
-

PAYMENT OF LIABILITIES
BALANCES

(50,000.00)
-

ADDITIONAL INVESTMENT
OF A
BALANCES

15,000.00
15,000.00

PAYMENT OF LIABILITIES
BALANCES

(10,000.00)
5,000.00

ADDITIONAL LOSS TO A & C


BALANCES
ADDITIONAL INVESTMENT
OF A
BALANCES

CASH
A, CAPITAL
B, CAPITAL
C, CAPITAL
OTHER ASSETS
LIABILITIES
CASH
CASH

5,000.00
2,500.00
7,500.00
(7,500.00)

A, CAPITAL
C, CAPITAL
B, CAPITAL

5,000.00

60,000.00
(50,000.00)
10,000.00

(15,000.00)

10,000.00

15,000.00
-

(10,000.00)
-

100,000.00
50,000.00
50,000.00
15,000.00

LIABILITIES
CASH

60,000.00

A, CAPITAL

(20,000.00)
(15,000.00)

40,000.00
20,000.00
20,000.00
20,000.00

A, CAPITAL

LIABILITIES

15,000.00
10,000.00
10,000.00
2,500.00
2,500.00
5,000.00

(2,500.00)
(2,500.00)

2,500.00
-

CASH

2,500.00
A CAPITAL

C, CAPITAL
CASH

2,500.00
7,500.00
7,500.00

B, CAPITAL

C, CAPITAL

15,000.00

30,000.00

(20,000.00)
(5,000.00)

(20,000.00)
10,000.00

5.00
5.00
2.00

(5,000.00)

10,000.00
2.00

(5,000.00)

10,000.00
2.00

(5,000.00)

10,000.00

5,000.00
-

(2,500.00)
7,500.00

7,500.00
(7,500.00)

3.00

2.00
2.00

EVASCO & ELLOR


STATEMENT OF LIQUIDATION
JANUARY 1-31, 2015

CASH
BALANCES BEFORE
LIQUIDATION
UNRECORDED LIABILITIES
BALANCES
REALIZATION AND DIST OF
LOSS
BALANCES
PAYMENT OF LIABILITIES
BALANCES
ADDITIONAL investment
balances
ADDITIONAL LOSS TO
EVASCO
BALANCES
PAYMENT TO PARTNER

EVASCO CAPITAL
ELLOR CAPITAL
ACCOUNTS PAYABLE
NOTES PAYABLE

ACCOUNTS
PAYABLE

NOTES
PAYABLE

1,000.00

152,000.00

20,000.00

86,000.00

1,000.00

152,000.00

2,000.00
22,000.00

1,000.00
87,000.00

(152,000.00)
-

22,000.00

87,000.00

(22,000.00)
-

(87,000.00)
-

113,800.00
114,800.00
(109,000.00)
5,800.00
4,000.00
9,800.00

9,800.00
(9,800.00)

1,200.00
1,800.00

CASH
ALLOW. FOR DOUBTFUL ACCOUNTS
ACC. DEPRECIATION
EVASCO CAPITAL
ELLOR CAPITAL
ACCOUNTS RECEIVABLE
MERCHANDISE INVENTORY
PREPAID ADVERTISING
MACHINERY & EQUIPMENT

ACCOUNTS PAYABLE

OTHER
ASSETS

2,000.00
1,000.00

4.00

113,800.00
20,000.00
60,000.00
15,280.00
22,920.00

9.00
80,000.00
50,000.00
2,000.00
100,000.00

22,000.00

NOTES PAYABLE
CASH
CASH

87,000.00

3.00
109,000.00

4,000.00
ELLOR, CAPITAL

EVASCO CAPITAL
ELLOR, CAPITAL

3,720.00

EVASCO CAPITAL
CASH

9,800.00

4,000.00

2.00

3,720.00

2.00

9,800.00

2.00

40%
EVASCO
CAPITAL

60%
ELLOR
CAPITAL

30,000.00

17,000.00

(1,200.00)
28,800.00

(1,800.00)
15,200.00

4
4

(15,280.00)
13,520.00

(22,920.00)
(7,720.00)

4
5
3

13,520.00

(7,720.00)

13,520.00

###
(3,720.00)

2
3

3,720.00
-

(3,720.00)
9,800.00
(9,800.00)

2
29

ABC PARTNERSHIP
STATEMENT OF LIQUIDATION
MAY 1-31, 2014
NON CASH
ASSETS

CASH
BALANCES BEFORE
LIQUIDATION

10,000.00

100,000.00

REALIZATION AND
DISTRIBUTION OF LOSS
BALANCES

40,000.00
50,000.00

(100,000.00)
-

PAYMENT OF LIABILITIES
BALANCES

(50,000.00)
-

LIABILITIES
60,000.00

ADDITIONAL INVESTMENT
OF A
BALANCES
PAYMENT OF LIABILITIES
BALANCES

CASH
A, CAPITAL
B, CAPITAL
C, CAPITAL
OTHER ASSETS
LIABILITIES
CASH
CASH

17,500.00
17,500.00
(10,000.00)
7,500.00
(7,500.00)

60,000.00
(50,000.00)
10,000.00

(15,000.00)

10,000.00

(2,500.00)
(17,500.00)

10,000.00

17,500.00
-

(10,000.00)
-

40,000.00
20,000.00
20,000.00
20,000.00
100,000.00
50,000.00
50,000.00
15,000.00

A, CAPITAL

15,000.00

A, CAPITAL
C, CAPITAL
B, CAPITAL

2,500.00
2,500.00

CASH

2,500.00

5,000.00

A CAPITAL
C, CAPITAL

2,500.00
7,500.00

5,000.00
(20,000.00)
(15,000.00)

ADDITIONAL LOSS TO A & C


-

A, CAPITAL

CASH

7,500.00

B, CAPITAL

C, CAPITAL

15,000.00

30,000.00

(20,000.00)
(5,000.00)

(20,000.00)
10,000.00

5.00
5.00
2.00

(5,000.00)

10,000.00

5,000.00
-

(2,500.00)
7,500.00

3.00

2.00
-

7,500.00
2.00

7,500.00
(7,500.00)

2.00