Grouse, Flicker, and Partridge are partners sharing profits and losses 20/40/40 respectively.
Their balance sheet is below.
Cash			$200,000		Payables to Creditors			$300,000
Receivable from Grouse			50,000		Loan to Partridge,			10,000
Receivable from Flicker			20,000		Grouse, Capital			240,000
Property & Equipment			480,000		Flicker, Capital			250,000
Goodwill			100,000		Partridge, Capital			50,000
			$850,000					$850,000
The business is doing poorly, and they decided to liquidate. As such, the goodwill is non-existent.
The goodwill was recorded when Flicker entered the business and was put entirely into Flicker's capital.
The non-cash assets were sold for $200,000, and there are $20,000 of liquidation expenses.
All partners are personally insolvent.
Prepare a liqudation schedule showing any cash available to the partners.