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Liquidation (Loss)
Liquidation (Loss)
Dr. Cr.
Cash 55,000
AFDA 1,000
Acc. Dep. 5,500
Loss on realization 19,000
A/R 25,000
Merchandise inventory 34,500
Equipment 21,000
M. Capital (19,000 x 5/10) 9,500
W. Capital (19,000 x 3/10) 5,700
D. Capital (19,000 x 2/10) 3,800
Loss on realization 19,000
N/P 13,500
A/P 27,000
W/P 4,000
Cash 44,500
M. Capital (800 x 5/8) 500
W. Capital (800 x 3/8) 300
D. Capital 800
M. Capital 23,000
W. Capital 15,000
Cash 38,000