Answer B

The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively Cash Other assets $ 54,000 167,000 Liabilities Miller, capital Tyson, capital Wataon, capital Total liabilities and capital $50,000 75,000 75,000 21.000 $221,000 Total ansato $221,000 a. Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time. b. For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation? Complete this question by entering your answers in the tabs below. Required A Required 8 For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation? Other assets must be sold for an amount over