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A local dental partnership has been liquidated and the final capital balances are A partnership has liquidated all assets but still reports the following account
A local dental partnership has been liquidated and the final capital balances are
A partnership has liquidated all assets but still reports the following account balances for its partners:
The partners split profits and losses as follows: Cisneros, 40 percent; Beck, 20 percent; Sadak, 10 percent; Emerson, 20 percent; and Page 10 percent.
Assuming that Cisneros, Beck, and Page are personally insolvent, how much cash must Sadak now contribute to this partnership? | |||||||||||||||||||||||||||||||||||||||||||
Thanks for your help!
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