| After studying this chapter, you should be able to: | |
| LO1 | Determine amounts to be paid to partners in a liquidation. |
| LO2 | Prepare journal entries to record the transactions incurred in the liquidation of a partnership. |
| LO3 | Determine the distribution of available cash when one or more partners have a deficit capital balance or become personally insolvent. |
| LO4 | Prepare a proposed schedule of liquidation from safe capital balances to determine an equitable preliminary distribution of available partnership assets. |
| LO5 | Develop a predistribution plan to guide the distribution of assets in a partnership liquidation. |