A partnership has liquidated all assets but still reports the following account balances: Beck, loan$5,500Cisneros, capital (40%)3,600Beck,
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Question:
A partnership has liquidated all assets but still reports the following account balances:
Beck, loan$5,500Cisneros, capital (40%)3,600Beck, capital (20%)(12,200)(deficit)Sadak, capital (10%)(8,200)(deficit)Emerson, capital (20%)15,500Page, capital (10%)(6,200)(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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