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 $15,000 to the partnership.

Cash	$	136,000
Liabilities		41,000
Monte, loan		32,000
Buarque, capital (50% of profits and losses)		38,000
Monte, capital (25%)		46,000
Vinicius, capital (25%)		(21,000)	(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	$	26,000		Liabilities	$	38,000
Drawdy, loan		11,000		Langston, loan		19,000
Noncash assets		162,000		Drawdy, capital (40%)		71,000
				Langston, capital (30%)		56,000
				Pearl, capital (30%)		15,000
Total assets	$	199,000		Total liabilities and capital	$	199,000

The firm sells the noncash assets for $126,000; it will use $21,000 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	$	26,000		Liabilities	$	38,000
Drawdy, loan		11,000		Langston, loan		19,000
Noncash assets		162,000		Drawdy, capital		71,000
				Langston, capital		56,000
				Pearl, capital		15,000
Total assets	$	199,000		Total liabilities and capital	$	199,000

The firm sells the noncash assets for $126,000; it will use $12,000 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		12,000
Krups, capital (30% of profits and losses)		(32,000)	deficit
Lindau, capital (30%)		(36,000)	deficit
Riedel, capital (20%)		21,000
Schnee, capital (20%)		26,000

Complete this question by entering your answers in the tabs below.

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.

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.

Buarque, Capital Monte, Loan and Capital Vinicius, Capital Beginning balances Contribution by Vinicius Capital balances Elimination of Vinicius's deficit Final distribution $ 0 $ 0 $ $ 0 $ 0 $ Drawdy, Loan and Capital Langston, Loan and Capital Pearl, Capital Beginning balances Loss on disposal Liquidation expenses Capital balances Allocation of Pearl's deficit Final distribution $ 0 $ 0 $ 0 S 0 $ 0 $ 0 Drawdy, Loan and Capital Langston, Loan and Capital Pearl, Capital Beginning balances Loss on disposal Liquidation expenses Capital balances Allocation of Pearl's deficit balance Final distribution $ 0 $ 0 $ $ 0 $ 0 $ 0 Krups, Loan and Capital Lindau, Capital Riedel, Capital Schnee, Capital Beginning balances Allocation of Krups's deficit balance Capital balances Contribution by Lindau Final distribution $ 0 0 $ $ $ 0 $ 0 $ 0 $