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

a.

The Simon, Haynes, and Jackson partnership presently reports the following accounts. Jackson is personally insolvent and can contribute only an additional $9,000 to the partnership. Simon is also insolvent and has no available funds. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts and amounts to be deducted should be indicated with a minus sign.)

Cash	$ 36,000
Liabilities	28,000
Haynes, loan	22,000
Simon, capital (40%)	22,000
Haynes, capital (20%)	(12,000)
Jackson, capital (40%)	(24,000)

	Simon, Capital	Haynes, Loan and Capital	Jackson, Capital
Beginning balances	$	$	$
Contribution by Jackson
Capital balances	$	$	$
Elimination of Jackson's deficit
Final distribution	$	$	$

b.	Hough, Luck, and Cummings 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	$ 26,000	Liabilities	$ 38,000
Hough, loan	14,000	Luck, loan	19,000
Noncash assets	174,000	Hough, capital (50%)	108,000
		Luck, capital (40%)	24,000
		Cummings, capital (10%)	25,000
Total assets	$214,000	Total liabilities and capital	$214,000

The firm sells the noncash assets for $86,000; it will use $27,000 of this amount to pay liquidation expenses. All three of these partners are personally insolvent. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts and amounts to be deducted should be indicated with a minus sign.)

	Hough, Loan and Capital	Luck, Loan and Capital	Cummings, Capital
Beginning balances	$	$	$
Loss on disposal
Liquidation expenses
Capital balances
Allocation of Luck's deficit
Final distribution	$	$	$

c.	Hough, Luck, and Cummings 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	$ 26,000	Liabilities	$ 38,000
Hough, loan	14,000	Luck, loan	19,000
Noncash assets	174,000	Hough, capital	108,000
		Luck, capital	24,000
		Cummings, capital	25,000
Total assets	$214,000	Total liabilities and capital	$214,000

Assume that the profits and losses are split 2:4:4 to Hough, Luck, and Cummings, respectively, and that liquidation expenses are only $12,000. The firm sells the noncash assets for $86,000; All three of these partners are personally insolvent. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to the nearest dollar amount. Negative amounts and amounts to be deducted should be indicated with a minus sign.)

	Hough, Loan and Capital	Luck, Loan and Capital	Cummings, Capital
Beginning balances	$	$	$
Loss on disposal
Liquidation expenses
Capital balances	$
Allocation of Cummings' deficit balance
Capital balances	$	$	$
Allocation of Luck's deficit balance
Final distribution	$	$	$

d.	Following the liquidation of all noncash assets, the partnership of Redmond, Ledbetter, Watson, and Sandridge has the following account balances:

Liabilities	$ 34,000
Redmond, loan	11,000
Redmond, capital (20%)	(33,000)
Ledbetter, capital (10%)	(36,000)
Watson, capital (30%)	8,000
Sandridge, capital (40%)	21,000

Redmond is personally insolvent. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts and amounts to be deducted should be indicated with a minus sign.)

	Redmond, Loan and Capital	Ledbetter, Capital	Watson, Capital	Sandridge, Capital
Beginning balances	$	$	$	$
Allocation of Redmond's deficit balance
Capital balances	$	$	$	$
Contribution by Ledbetter and Watson
Final distribution	$	$	$	$