A partnership held three assets: Cash $ 59,000 Land $ 45,000 Building $ 64,000 and liabilities were $ 30,000 The partners decided to dissolve the business and anticipated that expenses required to liquidate their partnership would amount to $ 5,000 Capital balances were as follows: King, capital $ 24,000 Murphy, capital 30,000 Madison, capital 48,000 Pond, capital 36,000 The partners shared profits and losses 10:20:30:40 respectively. The cash on hand was used to pay the liabilities. Any remaining cash in excess of the amount needed for anticipated liquidation expenses was immediately distributed to the partners. a. What is the total amount of cash that was immediately available to be distributed to the partners? b. The cash (in item a.) was distributed to each partner in a single payment. Show the total payment amount to each partner. (Show the amount of the single check that was written to each partner.) Support your answer with a predistribution plan (or schedule).

Problem 5A partnership held three assets: Cash $ 59,000Land $ 48,000Building $ 64,000and liabilities were $ 33,000 The partners decided to dissolve the business and anticipated that expenses required toliquidate their partnership would amount to $ 5,000Capital balances were as follows: King, capital $ 24,000Murphy, capital 30,000Madison, capital 48,000Pond, capital 36,000The partners shared profits and losses 10:20:30:40 respectively.The cash on hand was used to pay the liabilities. Any remaining cash in excess ofthe amount needed for anticipated liquidation expenses was immediatelydistributed to the partners.a. What is the total amount of cash that was immediately available to be distributed to the partners? b. The cash (in item a.) was distributed to each partner in a single payment.Show the total payment amount to each partner. (Show the amount of thesingle check that was written to each partner.) Support your answer with apredistribution plan (or schedule).

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A-7

Dengar

Subject- account

Ending Partner balances Burns and Allan have formed a partnership and invested $20.000 and $40,000, respectively. They have agreed to share profits as follows: 1) Burns is to receive a "salary" of $20.000 and Allan is to receive a "salary" of $30,000. 2) $30.000 is to be allocated according to their original capital contributions to the partnership. 3) The remainder is to be allocated 2:3 respectively Assuming that the business had a loss of $15000, allocate the loss to Burns and Allan.