Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
quiz q 9
130000
700000
All liabilities have been paid and the following capital balances are currently being recorded.
The partners share profits and losses as follows. All partners are insolvent.
robert, capital (50%)
Ferry, capital (30%)
Mones, capital (20%)
$500,000
300,000
30,000
450000
cash distribution
roberts
375,000
Reported balances
Loss on sale of building
split on a 5:3:2 basis
Cash distribution
b) If the land is sold for
cash distribution
Reported balances
Loss on sale of land
split on a 4:3:3 basis
Cash distribution
Potential loss from
Stone's deficit (split 4:3)(4/7, 3/7)
Cash distribution
b) If the land is sold for
Mones
-20,000
Roberts
500,000
Ferry
300,000
-125000
375,000
-75000
225,000
-250000
15000
Brown
125,714
Stone
-174,500
Brown
500,000
Fish
300,000
-274000
226,000
-205500
94,500
-100286
125,714
-75214
19,286
-685000
-175,500
5000
Brown
Stone
cash distribution
Reported balances
Loss on sale of land
split on a 4:3:3 basis
Cash distribution
Potential loss from
Stone's deficit (split 4:3)(4/7, 3/7)
Cash distribution
120,000
15,000
-174,500
Brown
500,000
Fish
300,000
-278000
222,000
-208500
91,500
-102000
120,000
-76500
15,000
-695000
-178,500
Mones
30,000
-50000
-20,000
Stone
30,000
-205500
-175,500
1000
-174,500
Stone
30,000
-208500
-178,500
4000
-174,500
quiz q 6
130000
700000
All liabilities have been paid and the following capital balances are currently being recorded.
The partners share profits and losses as follows. All partners are insolvent.
Roberts, capital (50%)
Ferry, capital (30%)
Mones, capital (20%)
$500,000
300,000
30,000
450000
cash distribution
roberts
375,000
Reported balances
Loss on sale of building
split on a 5:3:2 basis
Cash distribution
b) If the land is sold for
cash distribution
Reported balances
Loss on sale of land
split on a 4:3:3 basis
Cash distribution
Potential loss from
Stone's deficit (split 4:3)(4/7, 3/7)
Cash distribution
b) If the land is sold for
Mones
-20,000
Roberts
500,000
Ferry
300,000
-125000
375,000
-75000
225,000
-250000
15000
Brown
125,714
Stone
-174,500
Brown
500,000
Fish
300,000
-274000
226,000
-205500
94,500
-100286
125,714
-75214
19,286
-685000
-175,500
5000
Brown
Stone
cash distribution
Reported balances
Loss on sale of land
split on a 4:3:3 basis
Cash distribution
Potential loss from
Stone's deficit (split 4:3)(4/7, 3/7)
Cash distribution
120,000
15,000
-174,500
Brown
500,000
Fish
300,000
-278000
222,000
-208500
91,500
-102000
120,000
-76500
15,000
-695000
-178,500
Mones
30,000
-50000
-20,000
Stone
30,000
-205500
-175,500
1000
-174,500
Stone
30,000
-208500
-178,500
4000
-174,500
5000
80000
All liabilities have been paid and the following capital balances are currently being recorded.
The partners share profits and losses as follows. All partners are insolvent.
Harry, capital (40%)
Landers, capital (40%)
Walters, capital (20%)
$40,000
30,000
15,000
50000
cash distribution
harry
28,000
Reported balances
Loss on sale of building
split on a 4:4:2 basis
Cash distribution
15000
cash distribution
Brown
11,429
landers
21,000
walters
9,000
harry
40,000
landers
30,000
-12000
28,000
-9000
21,000
-30000
Reported balances
Loss on sale of land
split on a 4:3:3 basis
Cash distribution
Potential loss from
Stone's deficit (split 4:3)(4/7, 3/7)
Cash distribution
Stone
-3,500
Brown
40,000
Fish
30,000
-26000
14,000
-19500
10,500
-2571
11,429
-1929
8,571
-65000
-4,500
5000
Brown
Stone
cash distribution
Reported balances
Loss on sale of land
split on a 4:3:3 basis
Cash distribution
Potential loss from
Stone's deficit (split 4:3)(4/7, 3/7)
Cash distribution
5,714
4,286
-3,500
Brown
40,000
Fish
30,000
-30000
10,000
-22500
7,500
-4286
5,714
-3214
4,286
-75000
-7,500
walters
15,000
-6000
9,000
Stone
15,000
-19500
-4,500
1000
-3,500
Stone
15,000
-22500
-7,500
4000
-3,500
70000
540000
260000
8000
Reported balances
Anticipated loss
-342000
split on a 5:3:2 basis
Potential balances
Potential loss from Nixon's deficit (split 3:2)(3/5,2/5)
Safe payments
-1,000
Nixon (50%)
Cleveland (30)
Pierce (20)
170000
110000
70000
ntial losses of
342000
Nixon
170,000
Cleveland
110,000
Pierce
70,000
-171000
-1,000
1,000
0
-102600
7,400
-600
6,800
-68400
1,600
-400
1,200
5000
80000
All liabilities have been paid and the following capital balances are currently being recorded.
The partners share profits and losses as follows. All partners are insolvent.
Harry, capital (40%)
Landers, capital (40%)
Walters, capital (20%)
$40,000
30,000
15,000
50000
cash distribution
Brown
28,000
Reported balances
Loss on sale of building
split on a 4:3:3 basis
Cash distribution
15000
cash distribution
Brown
11,429
Fish
21,000
Stone
6,000
Brown
40,000
Fish
30,000
-12000
28,000
-9000
21,000
-30000
Reported balances
Loss on sale of land
split on a 4:3:3 basis
Cash distribution
Potential loss from
Stone's deficit (split 4:3)(4/7, 3/7)
Cash distribution
Stone
-3,500
Brown
40,000
Fish
30,000
-26000
14,000
-19500
10,500
-2571
11,429
-1929
8,571
-65000
-4,500
5000
Brown
Stone
cash distribution
Reported balances
Loss on sale of land
split on a 4:3:3 basis
Cash distribution
Potential loss from
Stone's deficit (split 4:3)(4/7, 3/7)
Cash distribution
5,714
4,286
-3,500
Brown
40,000
Fish
30,000
-30000
10,000
-22500
7,500
-4286
5,714
-3214
4,286
-75000
-7,500
Stone
15,000
-9000
6,000
Stone
15,000
-19500
-4,500
1000
-3,500
Stone
15,000
-22500
-7,500
4000
-3,500
$70,000
30,000
-42000
-58000
Cash distribution
Atkinson
20,000
20000
Kaporale
0
Dennsmore
0
Atkinson
70,000
0
70,000
Kaporale
30,000
0
30,000
-45714
24,286
-4,286
20,000
-34286
-4,286
4,286
0
Explanation:
The entire $20,000 goes to Atkinson.
Reported balances
Capital contribution
Adjusted balances
Potential loss from Dennsmore
and Rasputin
-80,000
split on a 4:3 basis (4/7, 3/7)
Adjusted balances
Potential loss from Kaporale
-4,286
Cash distribution
Dennsmore
-42,000
0
-42,000
Rasputin
-58,000
20,000
-38,000
42,000
0
0
0
38,000
0
0
0
10000
35000
50000
$25,000
28,000
20,000
22,000
The partners share profits and losses as follows: Ace (30%), Ball (30%), Eaton (20%), and Lak
If a preliminary distribution of cash is to be made, what is the amount of safe payment that
Safe payments
Ace
0
Reported balances
Maximum losses on land and building
split on a
3:3:2:2 basis
Estimated liquidation expenses
split 3:3:2:2
Potential balances
Potential loss from Ace ($2,000)
split on a 3:2:2 basis (3/7, 2/7, 2/7)
Safe payments
Ball
143
Eaton
1,429
Ace
25,000
-85000
-25500
-5000
-1500
-2,000
-2,000
2,000
0
5000
Eaton
20,000
Lake
22,000
-25500
-17000
-17000
-1500
1,000
-1000
2,000
-1000
4,000
-857
143
-571
1,429
-571
3,429