Question
A partnership has liquidated all assets but still reports the following account balances: Beck, loan $ 7,200 Cisneros, capital (40%) 3,000 Beck, capital (20%) (8,400
A partnership has liquidated all assets but still reports the following account balances:
Beck, loan $ 7,200
Cisneros, capital (40%) 3,000
Beck, capital (20%) (8,400 ) (deficit)
Sadak, capital (10%) (9,800 ) (deficit)
Emerson, capital (20%) 16,800
Page, capital (10%) (7,800 ) (deficit)
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 all partners are personally insolvent except for Sadak and Emerson, how much cash must Sadak now contribute to this partnership?
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