Mr. Douglas invested $25,000 cash in the business. 2. Purchased equipment worth $7,000 with a $500 down payment. The remainder is due in 30 days.
3. Paid $900 cash for a six-month insurance policy.
4. Received $3,000 cash from customers for services rendered.
5. Paid wages, $1,750.
6. Received and paid advertising bill of $100.
7. Performed services worth $2,500 for credit customers.
8. Received $1,700 cash from customers previously billed on account.
9. Mr. Douglas withdrew $5,300 cash for personal use.
10. Paid utility bill, $205.

On december 31, 2016, the decarreau, andrew, and bui partnership had the following fiscal year-end balance sheet: cash $10,000accounts receivable $20,000inventory $25,000plant assets - net $30,000loan to decarreau $18,000total assets $103,000accounts payable $14,000loan from bui $15,000decarreaua, capital (20%) $32,000andrew, capital (10%) $23,000bui, capital (70%) $19,000total liab./equity $103,000the percentages shown are the residual profit and loss sharing ratios. the partners dissolved the partnership on january 1, 2017, and began the liquidation process. during july the following events occurred: * receivables of $18,000 were collected.* all inventory was sold for $15,000.*all available cash was distributed on january 31, except for$8,000 that was set aside for contingent expenses.the book value of the partnership equity (i.e., total equity of the partners) on december 31, 2016 isa. $58,000b. $71,000c. $66,000d. $81,000