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A partnership has liquidated all assets but still reports the following account balances: Loan from White $ 8,500 Black, capital 3,600 White, capital (9,200 )
A partnership has liquidated all assets but still reports the following account balances: |
Loan from White | $ 8,500 | |
Black, capital | 3,600 | |
White, capital | (9,200 | ) (deficit) |
Green, capital | (5,000 | ) (deficit) |
Brown, capital | 16,100 | |
Blue, capital | (14,000 | ) (deficit) |
The partners split profits and losses as follows: Black, 30 percent; White, 30 percent; Green, 10 percent; Brown, 20 percent; and Blue, 10 percent. |
Assuming that all partners are personally insolvent except for Green and Brown, how much cash must Green now contribute to this partnership? (Do not round intermediate calculations.) |
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