PP, EE, and TT

Statement of Realizati
July 1, 20x4 to Sept
Assets
Cash Other Assets

Balances before Liquidation 6,000 135,000

July Realization of AR and Inventory and distribution of loss 26,500 (36,000)
Payment of liquidation expenses (1,000)
Payment to creditors (17,000)
Balances before payment to partners 14,500 99,000
Payment to partners (Sch. 1) (6,500)
Balances after July 8,000 99,000
August Payment of liquidation expenses (1,500)
Withdrawal of equipment (4,000)

Balances before payment to partners 6,500 95,000

Payment to partners (Sch. 2) (4,000)
Balances after August 2,500 95,000
September Realization of equipment and distribution of loss 75,000 (95,000)
Payment of liquidation expenses (1,000)
Balances before payment to partners 76,500 0
Payment to partners (76,500)
Balances at end of liquidation, September 30, 20x4 0 0
 PP, EE, and TT Partnership
Statement of Realization and Liquidation
July 1, 20x4 to September 30, 20x4
Liabilities and Partners' Capital
Schedule 1 - July 31, 20x4
PP, Capital EE, Capital TT, Capital Computation of Distribution o
A/P
50% 30% 20%
17,000 55,000 45,000 24,000 Balances before payment to p
(4,750) (2,850) (1,900) (9,500) 0
(500) (300) (200) (1,000) 0
(17,000) 0 Total interest
0 49,750 41,850 21,900 0 Restricted interest for possibl
(6,500) 0
0 49,750 35,350 21,900 0
(750) (450) (300) (1,500) 0
3,000 1,800 (8,800) 0 Total
0 Restricted for possible insolve
0 52,000 36,700 12,800
(4,000) Restricted for possible insolve
0 52,000 32,700 12,800 Payment to partner EE
(10,000) (6,000) (4,000) (20,000)
(500) (300) (200) (1,000)
0 41,500 26,400 8,600
(41,500) (26,400) (8,600)
0 0 0 0

Schedule 1 - August 31, 20x4

Computation of Distribution o

Balances before payment to p

Total interest
Restricted interest for possibl

Total
Restricted for possible insolve

Restricted for possible insolve

Payment to partner EE
 PP, EE, and TT Partnership
Schedule of Safe Payments

Liabilities and Partners' Capital

Schedule 1 - July 31, 20x4
Computation of Distribution of Cash on July 31, 20x4 PP, Capital EE, Capital TT, Capital
50% 30% 20%
Balances before payment to partners:
Loans 0 0 0
Capital 49,750 41,850 21,900
Total interest 49,750 41,850 21,900
Restricted interest for possible losses:
Unrealized non-cash assets 99,000
Cash withheld 8,000
107,000 (53,500) (32,100) (21,400)
Total (3,750) 9,750 500
Restricted for possible insolvency of PP (3:2) 3,750 (2,250) (1,500)
7,500 (1,000)
Restricted for possible insolvency of TT (1,000) 1,000
Payment to partner EE 6,500

PP, EE, and TT Partnership

Schedule of Safe Payments

Liabilities and Partners' Capital

Schedule 1 - August 31, 20x4
Computation of Distribution of Cash on August 31, 20x4 PP, Capital EE, Capital TT, Capital
50% 30% 20%
Balances before payment to partners:
Loans 0 0 0
Capital 52,000 36,700 12,800
Total interest 52,000 36,700 12,800
Restricted interest for possible losses:
Unrealized non-cash assets 95,000
Cash withheld 2,500
97,500 (48,750) (29,250) (19,500)
Total 3,250 7,450 (6,700)
Restricted for possible insolvency of TT (5:3) (4,188) (2,512) 6,700
(938) 4,938
Restricted for possible insolvency of PP 938 (938)
Payment to partner EE 4,000