=+EX 12-22 Distribution of cash upon liquidation obj. 4 a. Houston, $380 Hilliard, Downey, and Petrov
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=+EX 12-22 Distribution of cash upon liquidation obj. 4
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a. Houston, $380 Hilliard, Downey, and Petrov are partners sharing income 3:2:1. After the firm’s loss from liquidation is distributed, the capital account balances were: Hilliard, $24,000 Dr.;
Downey, $90,000 Cr.; and Petrov, $64,000 Cr. If Hilliard is personally bankrupt and unable to pay any of the $24,000, what will be the amount of cash received by Downey and Petrov upon liquidation?
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