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3. Charlie, Jake and Goober have a pet sitting service which is no longer profitable. They have tried to sell the business intact, but have
3. Charlie, Jake and Goober have a pet sitting service which is no longer profitable. They have tried to sell the business intact, but have no buyers. The partnership balance sheet is listed below. Cash $ 30.000 Liabilities $ 20,000 Other assets 90,000 C, Capital 25,000 J, Capital 35,000 G, Capital 40,000 $120.000 $120.000 Charlie, Jake and Goober share income and loss in a 2:5:3 ratio. During January 2013, $15,000 of the other assets were sold for $10,000. The creditors were paid and the remaining cash was distributed to the partners. A. Prepare a schedule of safe payments and determine cash distribution Safe Payment Plan C, Capital J, Capital G, Capital B. If $25,000 of remaining other assets were sold in February 2013, for $10,000, how much cash would you distribute to each partner? Safe Payment Plan C, Capital J, Capital G, Capital
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