10:59 AM Tue Nov 17 @ 24%D T + : 0 partnership 10. Harding, Jones, and Sandy, a partnership, is in the process of liquidating. The partners have the following capital account balances; $14,500, $14,500, and ($9,000) respectively. There are no liabilities and no anticipated liquidation expenses. The partners share all profits and losses 16%, 48%, and 36%, respectively. Sandy has indicated that the ($9,000) deficit will be covered with a forthcoming contribution. The remaining partners have requested an immediate distribution of the $20,000 in cash that is available. How should this cash be distributed? A) Harding $5,000; Jones $15,000. B) Harding $12,250; Jones $7,750. C) Harding $11,154; Jones $8,846. D) Harding $14,297; Jones $5,703. E) Harding $12,500; Jones $7,500. 5 11. 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? A) $ 0. B) $27,500. C) $45,000. D) $47,500. 11 #