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Based on the information provided, prepare a predistribution plan for liquidating this partnership. ...

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Accounting

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Based on the information provided, prepare a predistribution plan for liquidating this partnership.

22. The partnership of Larson, Norris, Spencer, and Harrison has decided to terminate operations and tion expenses. All partners are currently solvent. The balance sheet reported by this partnership at the time that the liquidation commenced follows. The percentages indicate the allocation of profits and losses to each of the four partners Cash Accounts receivable... Inventory Land and buildings Equipment $28,250 44,000 39,000 23,000 104,000 $238,250 Liabilities Larson, capital (20%). Norris, capital (30%) Spencer, capital (20%) Harrison, capital (30%) $47,000 15,000 60,000 75,000 41,250 Total assets . .. Total liabilites and cpital... $238.250

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