Liquidating Partnerships

Prior to liquidating their partnership, Ellis and Dunn had capital accounts of $59,000 and $100,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $140,000. The partnership had $6,000 of liabilities. Ellis and Dunn share income and losses equally.

Determine the amount received by Ellis as a final distribution from liquidation of the partnership. $