The following is the balance sheet of the fellowship. Other Assets Zendaya's Receivables $290,000 Accounts Payable Zendaya's Capital Moursh's Capital Total Liabilities $90,000 $15,000 $110,000 $105,000 Total Assets $305,000 $305,000 Zendaya and Moursh share a profit and loss sharing ratio of 55% : 45%. They agreed to liquidate the partnership. If other assets are sold for $310,000. So how much cash is available to be distributed to each partners?

Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership. Ripley invests $24,000 cash, and Nichols contributes $10,000 cash and equipment having a book value of $5,120. Prepare the entry to record Nichols's investment in the partnership, assuming the equipment has a fair value of $6.400. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit

The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively:                     Cash $ 50,000     Liabilities $ 42,000   Other assets   150,000     Miller, capital   69,000             Tyson, capital   69,000             Watson, capital   20,000   Total assets $ 200,000     Total liabilities and capital $ 200,000       a. Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time.

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Turner, Roth, and Lowe are partners who share income and loss in a 2:3:5 ratio (in percents: Turner, 20%; Roth, 30%; and Lowe, 50% ). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $138,000; total liabilities, $88,000; Turner, Capital, $3,500; Roth, Capital, $14,500; and Lowe, Capital, $32,000. Cash received from selling the assets was sufficient to repay all but $33,000 to the creditors. Exercise 12-14 Liquidation of limited partnership LO P5 Assume that the Turner, Roth, and Lowe partnership is a limited partnership. Turner and Roth are general partners and Lowe is a limited partner. How much should each partner contribute to cover the remaining capital deficiency of $33,000? (Do not round intermediate calculations. Losses and deficits amounts to be…

Beck and Nilo are equal partners in B & N Associates, a general partnership. B & N has the following liabilities at the end of the current year: Accounts payable Unsecured bank loan Note payable secured by collateral What amount of the debt is included in Beck's at-risk amount in the partnership? A. $2,000 B. $7,000 C. $13,000 D. $15,000 $4,000 10,000 16,000

Adams, Peters, and Blake share profits and losses for their APB Partnership in a ratio of 2:3:5. When they decide to liquidate, the balance sheet is as follows: Assets Liabilities and Capital $ 49,000 Cash Adams, Loan Other Assets Total Assets 11,800 218,000 Liabilities Adams, Capital Peters, Capital Blake, Capital Total Liabilities and Equities $ 278,800 $ 45,500 64,900 88,500 79,900 $ 278,800 Liquidation expenses are expected to be negligible. No interest accrues on loans with partners after termination of the business. During the liquidation process for the APB Partnership, the following events occurred: 1. During the first month of liquidation, noncash assets with a book value of $89,500 were sold for $68,000, and $22,500 of the liabilities were paid. 2. During the second month, the remaining noncash assets were sold for $78,000. The loan receivable from Adams was collected, and the rest of the creditors were paid. 3. Cash is distributed to partners at the end of each month.…