The partnership of Hendrick, Mitchum, and Redding has the following account balances: Cash Noncash assets $ 51,000 150,000 Liabilities Hendrick, capital Mitchum, capital Redding, capital $ 41,000 119,000 85,000 (44,000) This partnership is being liquidated. Hendrick and Mitchum are each entitled to 40 percent of all profits and losses with the remaining 20 percent going to Redding. a. What is the maximum amount that Redding might have to contribute to this partnership because of the deficit capital balance? b. How should the $10,000 cash that is presently available in excess of liabilities be distributed? c. If the noncash assets are sold for a total of $65,000, what is the minimum amount of cash that Hendrick could receive? (Do not round Intermediate calculations.)

The E.N.D. partnership has the following capital balances as of the end of the current year: $ 280,000 240,000 210,000 190,000 $ 920,000 Pineda Adams Fergie Gomez Total capital Answer each of the following independent questions: a. Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $262,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners? b. Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $305,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners? (Do not round your intermediate calculations. Round your final answers to the nearest dollar amounts.) Capital Balance a. Pineda Adams Gomez b. Adams Fergie Gomez

A partnership has the following capital balances: Natalie (70% of gains and losses). Annie (30% of gains and losses)... Rachel is going to pay a $80,000 to these two partners to acquire a 20% interest from each. Goodwill is to be recorded. What's Natalie's capital balance after the transaction? $216,000 $200,000 $188,000 $235,000 ..$200,000 .$150,000

The partnership of Winn, Xie, Yang, and Zed has the following balance sheet: Cash Other assets $ 39,000 256,000 Liabilities $ 51,000 Winn, capital (50% of profits and losses) Xie, capital (38%) 69,000 87,000 Yang, capital (10%) zed, capital (18%) 49,000 39,000 Zed is personally insolvent, and one of Zed's creditors is considering suing the partnership for the $5,000 that is currently owed. The creditor realizes that this litigation could result in partnership liquidation and does not wish to force such an extreme action unless Zed is reasonably sure of obtaining at least $5,000 from the liquidation. Required: a. Prepare a predistribution plan to determine the amount for which the partnership must sell the other assets to ensure that Zed receives $5,000 from the liquidation. Liquidation expenses are expected to be $24,000. b. For how much must the partnership sell the other assets to ensure that Zed receives $5,000 from the liquidation? Complete this question by entering your answers in…