consider the following information assets cash 15,000 non cash assets 95,000 receivable from harry 5,000 loan to hermione 4,000 liabilities and equity loan from ron 6,000 liabilities 20,000 harry capital 15 33,000 ron capital 55 25,000 hermione capital 30 35,000 if 40,000 of the book value of the non cash assets are sold for 18,000, additional liquidation expenses of 2,500 are incurred and paid, cash withheld if 5,400 and all of the outside creditors are paid, how much is the total cash paid to partnesrs during the first installments based from 1, how much was paid to ron based from 1, how much is the capital balance of harry after the first installment during the first installment, the following data are relevant 56,000 of the book value of the non cash assets are sold for 38,000, additional liquidation expenses for 12,000 are incurred and paid, all of the outside creditors are also paid if harry received 11,000 during the first installment, how much is the total cash paid to partners during the first installments based on 4, how much is the cash withheld

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Posted on Jun 28, 2024

consider the following information

assets: cash 15,000; non cash assets 95,000; receivable from harry 5,000; loan to hermione 4,000

liabilities and equity: loan from ron 6,000; liabilities 20,000; harry capital - 15% 33,000; ron capital -55% 25,000; hermione capital - 30% 35,000

if 40,000 of the book value of the non cash assets are sold for 18,000, additional liquidation expenses of 2,500 are incurred and paid, cash withheld if 5,400 and all of the outside creditors are paid, how much is the total cash paid to partnesrs during the first installments?
based from #1, how much was paid to ron?
based from #1, how much is the capital balance of harry after the first installment?
during the first installment, the following data are relevant: 56,000 of the book value of the non cash assets are sold for 38,000, additional liquidation expenses for 12,000 are incurred and paid, all of the outside creditors are also paid. if harry received 11,000 during the first installment, how much is the total cash paid to partners during the first installments?
based on #4, how much is the cash withheld?