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Business, 19.07.2019 21:30 DepressionCentral

Gonda, herron, and morse is considering possible liquidation because partner morse is personally insolvent. the partners have the following capital account balances: $60,000, $70,000, and $40,000, respectively, and share profits and losses 30%, 45%, and 25%, respectively. the partnership has $200,000 in noncash assets that can be sold for $150,000. the partnership has $10,000 cash on hand, and $40,000 in liabilities. what is the minimum that partner morse’s creditors would receive if they have filed a claim for $50,000?

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