Following is a series of independent cases In each situation, indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances Part A The Buarque, Monte, and Vinicius partnership reports the following accounts Vinicius is personally insolvent and can contribute only an additional $34,000 to the partnership Cash $ 155,000 Liabilities 60,000 Monte, loan 70,000 Buarque, capital (50 of profits and losses) 22,000 Monte, capital (25 ) 43,000 Vinicius, capital (25 ) (40,000 ) (deficit) Part B Drawdy, Langston, and Pearl operate a local accounting firm as a partnership After working together for several years, they have decided to liquidate the partnerships property The partners have prepared the following balance sheet Cash $ 45,000 Liabilities $ 59,500 Drawdy, loan 30,000 Langston, loan 26,000 Noncash assets 200,000 Drawdy, capital (40 ) 90,000 Langston, capital (30 ) 75,000 Pearl, capital (30 ) 24,500 Total assets $ 275,000 Total liabilities and capital $ 275,000 The firm sells the noncash assets for $145,000 it will use $40,000 of this amount to pay liquidation expenses All three of these partners are personally insolvent Part C Drawdy, Langston, and Pearl operate a local accounting firm as a partnership After working together for several years, they have decided to liquidate the partnerships property The partners have prepared the following balance sheet Cash $ 45,000 Liabilities $ 59,500 Drawdy, loan 30,000 Langston, loan 26,000 Noncash assets 200,000 Drawdy, capital 90,000 Langston, capital 75,000 Pearl, capital 24,500 Total assets $ 275,000 Total liabilities and capital $ 275,000 The firm sells the noncash assets for $145,000 it will use $31,000 of this amount to pay liquidation expenses All three of these partners are personally insolvent Assume that the profits and losses are split 2 4 4 to Drawdy, Langston, and Pearl, respectively Part D Following the liquidation of all noncash assets, the partnership of Krups, Lindau, Riedel, and Schnee has the following account balances Krups is personally insolvent Liabilities $ 9,000 Krups, loan 31,000 Krups, capital (30 of profits and losses) (70,000 ) deficit Lindau, capital (30 ) (55,000 ) deficit Riedel, capital (20 ) 40,000 Schnee, capital (20 ) 45,000 Indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances Indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances (Do not round intermediate calculations Round the final answers to nearest dollar amounts ) Indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances (Do not round intermediate calculations Round the final answers to nearest dollar amounts ) Indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances (Do not round intermediate calculations Round the final answer to nearest dollar amounts ) Indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances Indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances (Do not round intermediate calculations Round the final answers to nearest dollar amounts ) Indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances (Do not round intermediate calculations Round the final answers to nearest dollar amounts ) Indicate the cash distribution to be made to partners at the end of the liquidation process Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances (Do not round intermediate calculations Round the final answer to nearest dollar amounts )

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Following is a series of independent cases . In each situation, indicate the cash distribution to be made to partners at the end of the

Following is a series of independent cases. In each situation, indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances.

Part A

The Buarque, Monte, and Vinicius partnership reports the following accounts. Vinicius is personally insolvent and can contribute only an additional $34,000 to the partnership.


Cash	$	155,000
Liabilities		60,000
Monte, loan		70,000
Buarque, capital (50% of profits and losses)		22,000
Monte, capital (25%)		43,000
Vinicius, capital (25%)		(40,000	) (deficit)

Part B

Drawdy, Langston, and Pearl operate a local accounting firm as a partnership. After working together for several years, they have decided to liquidate the partnerships property. The partners have prepared the following balance sheet:


Cash	$	45,000	Liabilities	$	59,500
Drawdy, loan		30,000	Langston, loan		26,000
Noncash assets		200,000	Drawdy, capital (40%)		90,000
			Langston, capital (30%)		75,000
			Pearl, capital (30%)		24,500
Total assets	$	275,000	Total liabilities and capital	$	275,000

The firm sells the noncash assets for $145,000; it will use $40,000 of this amount to pay liquidation expenses. All three of these partners are personally insolvent.

Part C


Cash	$	45,000	Liabilities	$	59,500
Drawdy, loan		30,000	Langston, loan		26,000
Noncash assets		200,000	Drawdy, capital		90,000
			Langston, capital		75,000
			Pearl, capital		24,500
Total assets	$	275,000	Total liabilities and capital	$	275,000

The firm sells the noncash assets for $145,000; it will use $31,000 of this amount to pay liquidation expenses. All three of these partners are personally insolvent. Assume that the profits and losses are split 2:4:4 to Drawdy, Langston, and Pearl, respectively.

Part D

Following the liquidation of all noncash assets, the partnership of Krups, Lindau, Riedel, and Schnee has the following account balances. Krups is personally insolvent.


Liabilities	$	9,000
Krups, loan		31,000
Krups, capital (30% of profits and losses)		(70,000	) deficit
Lindau, capital (30%)		(55,000	) deficit
Riedel, capital (20%)		40,000
Schnee, capital (20%)		45,000

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Indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances. Indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances. (Do not round intermediate calculations. Round the final answers to nearest dollar amounts.) Indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances. (Do not round intermediate calculations. Round the final answers to nearest dollar amounts.) Indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances. (Do not round intermediate calculations. Round the final answer to nearest dollar amounts.) Indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances. Indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances. (Do not round intermediate calculations. Round the final answers to nearest dollar amounts.) Indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances. (Do not round intermediate calculations. Round the final answers to nearest dollar amounts.) Indicate the cash distribution to be made to partners at the end of the liquidation process. Unless otherwise stated, assume that all solvent partners will reimburse the partnership for their deficit capital balances. (Do not round intermediate calculations. Round the final answer to nearest dollar amounts.)