12. The following is the Financial Position of IKR Partnership as of December 31, 2016. Advanced Accounting 1 Page 13 Assets Liabilities & Equity Cash 15,000 Loan from K 6,000 Non-Cash 95,000 Liabilities 20,000 Receivable from I 5,000 1, Capital (15%) 33,000 Loan to R 4,000 K, Capital (55%) 25,000 R, Capital (30%) 35,000 Total Assets 119,000 Total Liabilities & Equities 119,000 A) If 40,000 of the book value of the non-cash assets are sold for 18,000, additional liquidation expenses of 2,500 are incurred and paid, cash withheld is 5,400, and all of the outside creditors are paid, how much is the total cash paid to partners during the first installment? A. 15,265 5,100 B. 5,530 10,500 B) During the first installment the following data are relevant: 56,000 of the book value of the non-cash assets are sold for 38,000; additional liquidation expenses of 12,000 are incurred and paid; all of the outside creditors are also paid. If I received 11,000 during the first installment, how much is the cash withheld? A. 8,500 C. 9,500 B. 10,000 D. 10,500 13. The balance sheet of the partnership of Nah, Lin and Toh are shown below: NLT Partnership Balance Sheet December 31, 2015 Cash 50,000 Liabilities 80,000 Non-Cash 250,000 Nah, Capital (50) 100,000 Lin, Capital (25) 75,000 Toh, Capital (25) 45,000 Total 300,000 Total 300,000 On January 2016, certain non-cash assets were sold for a certain amount. Liquidation expenses and liabilities of 4,000 and 25,000 were paid. Future liquidating expenses of 5,000 are anticipated. Lih received 42,750 from the first distribution of available cash. A) How much is the cash received from the realization of the NCAs? A. 120,000 C. 130,000 . 140,000 D. 75,000 B) Assuming that on February 2016, the remaining non-cash assets were sold for 75,000 and liquidating expenses of 5,000 are paid, how much is the total cash received by Nah from the two distributions of cash? A. 37,500 C. 75,000 73,000 D. 74,000