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