1) Lone Pine Café

Balance Sheet on November 2, 2009

Liabilities Amount Assets Amount
Capital(16000 each) 48000 Cash Register 1400
Loan 21000 License 1428
Foods and Beverages 2800
Equipment 53200
Checking Account 10172

Total 69000 Total 69000

2) Lone Pine Café

Balance Sheet on March 30, 2010
Liabilities Amount Assets Amount
Unsecured Loan 18900 Checking Account 1030
Amount payable 1583 Cash 870
Equity 35435 Food and beverages 2430
Equipment 50755
License Fee 833
Total 55918 Total 55918

3) Yes partners are entitled to receive their proportanate share. Because any surplus during the dissolution of partnership fi
 Unsecured Loan on March 31, 2009
Opening Amount 21000
Paid 2100
Remaining 18900

Equipment depreciation
Equipment 53200
Depreciation 2445
50755

License Fee
Fee for one year 1428
Paid 595
O/s amount 833

s during the dissolution of partnership firm is divided among the partners proportanely.