The partnership of Frick, Wilson, and Clarke has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the following account balance.

Cash $ 61,000 Liabilities $ 44,000
Noncash assets 213,000 Frick, capital (60%) 123,000
Wilson, capital (20%) 34,000
Clarke, capital (20%) 73,000
Part A

Prepare a predistribution plan for this partnership

Frick, Capital Wilson, Capital Clarke, Capital
Beginning Balance
Loss
Step one balances
Loss
Step two balances
Loss
Step three balances
Part B

The following transactions occur in liquidating this business:

1. Distributed cash based on safe capital balances immediately to the partners. Liquidation expenses of $8,000 are estimated as a basis for this computation.

2. Sold noncash assets with a book value of $92,000 for $61,000.

3. Paid all liabilities.

4. Distributed cash based on safe capital balances again.

5. Sold remaining noncash assets for $50,000.

6. Paid actual liquidation expenses of $6,000 only.

7. Distributed remaining cash to the partners and closed the financial records of the business permanently.

Part C

Prepare journal entries to record the liquidation transactions reflected in the final statement of liquidation

Alandowner entered into a written agreement with a real estate broker whereby the broker would receive a commission of 10% of the sale price if he procured a "ready, willing, and able buyer" for the landowner's property and if the sale actually proceeded through closing. the broker found a buyer who agreed in writing to buy the property from the landowner for $100,000, the landowner's asking price. the buyer put up $6,000 as a down payment. the agreement between the landowner and the buyer contained a liquidated damages clause providing that, if the buyer defaulted by failing to tender the balance due of $94,000 at the closing date, damages would be 10% of the purchase price. the landowner included that clause because she was counting on using the proceeds of the sale for a business venture that would likely net her at least $10,000. the buyer became seriously ill and defaulted. when he recovered, he demanded that the landowner return his $6,000, and the landowner refused. the broker also demanded the $6,000 from the landowner and was refused. the broker and the buyer filed separate suits against the landowner, with the buyer pleading impossibility of performance. the two cases are consolidated into a single case. how should the court rule as to the disposition of the $6,000?

Suppose a stock had an initial price of $65 per share, paid a dividend of $1.45 per share during the year, and had an ending share price of $58. a, compute the percentage total return. (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. what was the dividend yield and the capital gains yield? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

The following information relates to the pina company. date ending inventory price (end-of-year prices) index december 31, 2013 $73,700 100 december 31, 2014 100,092 114 december 31, 2015 107,856 126 december 31, 2016 123,009 131 december 31, 2017 113,288 136 use the dollar-value lifo method to compute the ending inventory for pina company for 2013 through 2017.