accounting 2 cash distribution schedule 430168

The Best Company at December 31 has cash $20,000, noncash assets $100,000, liabilities $55,000, and the following capital balances: Rodriguez $45,000 and Escobedo $20,000. The firm is liquidated, and $110,000 in cash is received for the noncash assets. Rodriguez and Escobedo income ratios are 60% and 40%, respectively. Complete the cash distribution schedule The Best Company Schedule of Cash Payments (Chart like set up) Item Cash + Noncash Assests = Liabilities + Rodriguez, Capital + Escobeo, Caspital Balances before liquidation X + X = X + X + X Sale of noncash assests and X + X = X + X + X allocation of gain New balances X + X = X + X + X Pay Liabilities X + X = X + X + X New Balances X + X = X + X + X Cash distribution to partners X + X = X + X + X Final Balances X + X = X + X + X