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A partnership is considering possible liquidation because one of the partners (Bell) is personally insolvent. Profits and losses are divided on a 4:3:2:1 basis,
A partnership is considering possible liquidation because one of the partners (Bell) is personally insolvent. Profits and losses are divided on a 4:3:2:1 basis, respectively. Capital balances at the current time are Bell, capital Hardy, capital Dennard, capital Suddath, capital $83,500 69,000 16,000 93,000 Bell's creditors have filed a $34,000 claim against the partnership's assets. The partnership currently holds assets of $430,000 and liabilities of $168,500. If the assets can be sold for $255,000, what is the minimum amount that Bell's creditors would receive? Multiple Choice $5,900 $13,500 $0 $4,000
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