Chapter 12 – Accounting for Partnerships
SOLUTION: ALTERNATE DEMONSTRATION PROBLEM
CHAPTER 12
1. Proceeds from sale $85,000
2. Sands Mell Rand
Capital account balance prior to
distribution of loss on sale of
assets
$1,200 $11,700 $15,100
3. Sands Mell Rand
Capital account balance after
distribution of loss on sale of
assets $ (900) $3,300 $4,600
12-1