A local partnership was considering the possibility of liquidation since one of the partners (Ding) was personally insolvent. Capital balances at that time were as follows. Profits and losses were divided on a 4:2:2:2 basis, respectively.
Ding capital- 60,000
Laurel- 67,000
Ezzard- 17,000
Tillman- 96,000
Creditors of partner Ding filed a $25,000 claim against the partnership's assets. At that time, the partnership held noncash assets reported at $360,000 and liabilities of $120,000. There was no cash on hand at the time. If the assets could be sold for $228,000, what is the minimum amount that Ezzard's creditors would have received? Explain
Answers: 3
Another question on Business
Business, 21.06.2019 23:00
James has set the goal of achieving all "a"s during this year of school.which term best describes this goal
Answers: 2
Business, 21.06.2019 23:30
Starting at age 30, you deposit $2000 a year into an ira account for retirement. treat the yearly deposits into the account as a continuous income stream. if money in the account earns 7%, compounded continuously, how much will be in the account 35 years later, when you retire at age 65? how much of the final amount is interest?
Answers: 2
Business, 22.06.2019 20:50
Happy foods and general grains both produce similar puffed rice breakfast cereals. for both companies, thecost of producing a box of cereal is 45 cents, and it is not possible for either company to lower their productioncosts any further. how can one company achieve a competitive advantage over the other?
Answers: 1
Business, 22.06.2019 21:30
Russell's study compared gpa of those students who volunteered for academic study skills training and those who did not elect to take the training. he found that those who had the training also had higher gpa. with which validity threat should russell be most concerned?
Answers: 2
You know the right answer?
A local partnership was considering the possibility of liquidation since one of the partners (Ding)...
Questions
Health, 24.12.2019 05:31
Computers and Technology, 24.12.2019 05:31
Spanish, 24.12.2019 05:31
Mathematics, 24.12.2019 05:31
Chemistry, 24.12.2019 05:31
English, 24.12.2019 05:31
Physics, 24.12.2019 05:31
English, 24.12.2019 05:31
Mathematics, 24.12.2019 05:31
