artnership Liquidation. The balance sheet of the Tri Brothers partnership just prior to liquidation appears below: Tri Brothers Balance Sheet...

artnership Liquidation. The balance sheet of the Tri Brothers partnership just prior to liquidation appears below: Tri Brothers Balance Sheet december 31, 2017. Assets-Cash $140,000, Noncash assets $380,000. Liabilities and Owners Equity-Liabilities $240,000, Grayson, Capital 40,000, Lawson, Capital 160,000, Myer's Capital 80,000. Both ending with $520,000. Other info.1.The partners Grayson, Lawson, and Myers share profits and losses in the ratio of 6:3:1. 2. The noncash assets are sold for $280,000. 3. The liabilities are paid in full.4. The remaining assets are distributed to the partners. Assume that if any partner any a capital deficiency, he will not be able to pay the amount owed to the partnership. Prepare the five entries to record the liquidation of the Tri Brothers partnership. Problem D-IV-Bonds Payable-Straight Line Method. Jozoi Company issues $700,000 of 10%, 10 year bonds on January 1, 2016, at 102. Interest is payable annually on January 1. the company uses the straight line method od amortization. 1. Journalize the entries on (1) January 1,2016, (2) December 31,2016, and (3) January 1,2017. 2. Show the balance sheet presentation of the bonds at December 31, 2016.