Fahran, Boosah and Delbar

Schedule Of Safe Payment

31-Jan-14

Possible Losses Fahran Boosah Delbar

Partner Equity Balances $ 675,000 $ 695,000 $ 1,390,000

Partner Loss on noncash asset $ 2,800,000 $ (840,000) $ (560,000) $ (1,400,000)
$ (165,000) $ 135,000 $ (10,000)
Possible Loss On contigencies
Cash Witheld $ 50,000 $ (15,000) $ (10,000) $ (25,000)
$ (180,000) $ 125,000 $ (35,000)
Possible Loss From Delbar $ (21,000) $ (14,000) $ 35,000
$ (201,000) $ 111,000 $ -
Possible Loss From Farhan $ 201,000 $ (201,000)
$ - $ (90,000) $ -

2. Journal For Distributing Cash

Cash $ 90,000
Boosah Capital $ 30,000
Loan To Boosah $ 120,000
Berin,Fetin and Murat
Cash Distribution Plan

Vulnerability ranks

Equity Loss Absroption Rank

Berin 2.200.000/50% $ 4,400,000 1

Fetin 1.600.000/30% $ 5,333,333 3
Murat 1.000.000/20% $ 5,000,000 2
Assume Loss Absoption
Berin Fetin Murat Total
Predistribution Equities $ 2,200,000 $ 1,600,000 $ 1,000,000 $ 4,800,000
Loss absorb to Berin $ (2,200,000) $ (1,320,000) $ (880,000) $ (4,400,000)
$ - $ 280,000 $ 120,000 $ 400,000
Loss absorb to Murat $ (180,000) $ (120,000) $ (300,000)
$ 100,000 $ - $ 100,000
Cash Distribution Plan

Priority Liabilities Berin Fetin Murat

First, 1.000.000 100%

Next,200k 100%
Next 100%
Reminder 50% 30% 20%
Jon, Sam and Tad
Statement Of Liquidation Partnership Liquidation
For The Period January 1,2016
Jun Capital
Cash Noncash Asset Priority Liability
(20%)
Balances On Jan 1, 2016 $ 15,000 $ 215,000 $ 80,000 $ 40,000
Sold Inventory $ 20,000 $ (65,000) $ (9,000)
Collection Of A/R $ 14,000 $ (14,000)
PredistributionBalances $ 49,000 $ 136,000 $ 80,000 $ 31,000
Cash Distribution $ (40,000) $ (40,000)
Balances On Jan 31, 2016 $ 9,000 $ 136,000 $ 40,000 $ 31,000

Jon, Sam and Tad

Statement Of Liquidation Partnership Liquidation
For The Period February,2016
Jun Capital
Cash Noncash Asset Priority Liability (20%)
Beg Balance 1 Feb 2016 $ 9,000 $ 136,000 $ 40,000 $ 31,000
Sold Land $ 60,000 $ (40,000) $ 4,000
Sold Land and Building $ 40,000 $ (70,000) $ (6,000)
Receivable Collection $ 3,000 $ (6,000) $ (600)
Balances On 28 Feb, 2016 $ 112,000 $ 20,000 $ 40,000 $ 28,400

Jon, Sam and Tad

Statement Of Liquidation Partnership Liquidation
For The Period 31 March,2016
Cash Noncash Asset Priority Liability Jun Capital
(20%)
Beg Balances 1 March 2016 $ 112,000 $ 20,000 $ 40,000 $ 28,400
Write Off Furniture n fixtures $ (20,000) $ (4,000)
Predistribution Balances $ 112,000 $ - $ 40,000 $ 24,400
Creditors $ (40,000) $ (40,000)
Partners $ (72,000) $ (24,400)
Balances On March 31, 2016 $ - $ - $ - $ -
 Sam Capital Tad Capital
(30%) (50%)
$ 60,000 $ 50,000
$ (13,500) $ (22,500)

$ 46,500 $ 27,500

$ 46,500 $ 27,500

Sam Capital Tad Capital

(30%) (50%)
$ 46,500 $ 27,500
$ 6,000 $ 10,000
$ (9,000) $ (15,000)
$ (900) $ (1,500)
$ 42,600 $ 21,000

Sam Capital Tad Capital

(30%) (50%)
$ 42,600 $ 21,000
$ (6,000) $ (10,000)
$ 36,600 $ 11,000

$ (36,600) $ (11,000)
$ - $ -
Jax , Kya and Bud
Statement Of Partnership Liquidation
For the period Jan 1, 2016 To Feb 1, 2016
Noncash Priority Jax Capital Kya Capital
Cash Loan To Jax
Asset Liability (50%) (30%)
Balance January 1 $ 16,500 $ 149,500 $ 14,000 $ 21,000 $ 69,000 $ 47,000
Offset Jax Loan $ (14,000) $ (14,000)
Collection Of A/R $ 25,000 $ (25,000)
Write off A/R $ (3,000) $ (1,500) $ (900)
Liquidation Expense $ (2,000) $ (1,000) $ (600)
Predistribution Balances
Jan 31' $ 39,500 $ 121,500 $ - $ 21,000 $ 52,500 $ 45,500
January Distribution
Creditors $ (21,000) $ (21,000)
Cash Distribution $ (13,500) $ (1,100)
Balance February 1 $ 5,000 $ 121,500 $ - $ - $ 52,500 $ 44,400

Jax , Kya and Bud

Statement Of Partnership Liquidation
For the period Feb 1, 2016, To March 1, 2016
Cash Noncash Priority Jax Capital Kya Capital Bud Capital
Asset Liability (50%) (30%) (20%)
Balance February 1 $ 5,000 $ 121,500 $ $- 52,500 $ 44,400 $ 29,600
Sale Of Inventories $ 18,000 $ (20,500) $ (1,250) $ (750) $ (500)
Sale Of Equipment $ 90,000 $ (101,000) $ (5,500) $ (3,300) $ (2,200)
Liability Discovered $ 3,000 $ (1,500) $ (900) $ (600)
Liquidation Expenses $ (2,000) $ (1,000) $ (600) $ (400)

Predistribution Balances
28 Feb $ 111,000 $ - $ 3,000 $ 43,250 $ 38,850 $ 25,900
Paid to Distributors $ (3,000) $ (3,000)
Cash Distribution $ (108,000) $ (43,250) $ (38,850) $ (25,900)

Ending Balance Feb 2019 $ - $ - $ - $ - $ - $ -

 Jax , Kya and Bud
Schedule Of Safe Payment
January 31,2016
Bud Capital Possible Jax Capital
(20%) Losses (50%)
$ 43,000 Partner equities, January 31, 2017 $ 52,500
Partner Loss On NonCash asset $ (121,500) $ (60,750)
$ (8,250)
$ (600) Possible Loss On Contigencies
$ (400) Cash Witheld $ (5,000) $ (2,500)

$ 42,000 $ (10,750)
Possible Loss from Jax $ 10,750
$ -
$ (12,400)
$ 29,600
 Kya Capital Bud Capital
(30%) (20%)
$ 45,500 $ 42,000
$ (36,450) $ (24,300)
$ 9,050 $ 17,700

$ (1,500) $ (1,000)

$ 7,550 $ 16,700
$ (6,450) $ (4,300)
$ 1,100 $ 12,400
 Net Loss 20% Jee 40% Moe 40% Ole
$ (200,000)
Salaries $ (50,000) $ 25,000 $ 25,000
Loss To Divide $ (250,000)
Divide (Ratio) $ 250,000 $ (50,000) $ (100,000) $ (100,000)
Loss Allocated $ - $ (25,000) $ (75,000) $ (100,000)

1. Closing Entries
Revenue $ 200,000
Jee Capital $ 25,000
Moe Capital $ 75,000
Ole Capital $ 100,000
Expenses $ 400,000

2. Cash Distribution Plan

Vulnerability Ranks
Equity Loss Absorption Rank
Jee 225000 / 20% $ 1,125,000 3
Moe 375000/40% $ 937,500 2
Ole 270000/40% $ 675,000 1
Assume Loss Absorption
Jee Moe Ole Total
Predistribution Equities
$ 225,000 $ 375,000 $ 270,000 $ 870,000
Loss To Absorb Ole
$ (135,000) $ (270,000) $ (270,000) $ (675,000)

$ 90,000 $ 105,000 $ - $ 195,000

Loss To Absrorb Moe $ (52,500) $ (105,000) $ (157,500)
$ 37,500 $ - $ - $ 37,500
Cash Distribution plan
Priority
Jee Moe Ole
Liabilities
First, $80.000 100%
Second, $37500 100%
Third, $ 157500 33% 67%
Reminder 20% 40% 40%

3. Cash Distribution Schedule

Priority creditors Jee Moe Ole

First $ 80,000 $ 80,000

Second $ 37,500 $ 37,500
Third $ 18,000 $ 6,000 $ 12,000
$ 135,500 $ 80,000 $ 43,500 $ 12,000 $ -