The MFP Partnership is to be liquidated when the ledger shows the following: 
Moss, Fairly, and Pratt's income ratios are 6:3:1, respectively.
Instructions
Prepare separate entries to record the liquidation of the partnership assuming that the noncash assets are sold for $150,000 in cash.
Definitions:
Astigmatism Test Chart
A visual tool used in eye examinations to detect astigmatism by measuring how light is perceived by the eye from different angles.
Visual Acuity
A measure of the clarity or sharpness of vision, typically assessed using a Snellen chart.
Flattens
Becomes level or even without any raised areas or bumps; reduces in thickness or protrusion.
Bulges
Protrusions or outward expansions often seen in materials, body parts, or other physical objects.
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