Month 4—The remaining assets were sold for $7,000, and final liquidation expenses were paid in the amount of $4,500. Prepare an installment liquidation schedule with all necessary supporting...

Month 4—The remaining assets were sold for $7,000, and final liquidation expenses were paid in the amount of $4,500.

Prepare an installment liquidation schedule with all necessary supporting schedules.

1. Assuming new Partner D acquired 20% of Partner B’s interest from B for consideration of $15,000, what is Partner B’s capital balance after this transaction?

2. Assume that the above assets are understated by $25,000. If new Partner D were to acquire a 30% interest in the partnership by making a contribution of assets to the partnership, what would be the suggested value of the consideration?