Maurice Tutor

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Category > Management Posted 13 Oct 2017 My Price 5.00

partners (Bell) is insolvent

A local partnership is considering possible liquidation because one of the partners (Bell) is insolvent. Capital balances at the current time are as follows. Profits and losses are divided on a 4:3:2:1 basis, respectively.

Bell, capital . . . . . . . . . . . . . . . . .

$50,000

Hardy, capital. . . . . . . . . . . . . . . .

56,000

Dennard, capital . . . . . . . . . . . . .

14,000

Suddath, capital . . . . . . . . . . . . .

80,000

bells creditors have filed a $21,000 claim against the partnership's assets. The partnership currently holds assets reported at $300,000 and liabilities of $100,000. If the assets can be sold for $190,000, what is the minimum amount Bell's creditors would receive?

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Maurice Tutor
(5)
Status NEW Posted 13 Oct 2017 01:10 PM My Price 5.00

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