Liquidating Partnerships-Deficiency Prior to liquidating their partnership, Callie and Russo had capital accounts of $22,000 and $92,000, respectively. The partnership assets were sold for $46,000. The partnership had no liabilities. Callie and Russo share income and losses equally. Required: a. Determine the amount of Callie's deficiency. b. Determine the amount distributed to Russo, assuming Callie is unable to satisfy the deficiency. Liquidating Partnerships Prior to liquidating their partnership, Ellis and Dunn had capital accounts of $24,000 and $44,000, 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 $60,000. The partnership had $2,000 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. Partner Bonus Blair has a capital balance of $113,000 after adjusting assets to fair market value. Rojas contributes $61,000 to receive a 35% interest in a new partnership with Blair. Determine the amount and recipient of the partner bonus. Amount of bonus Recipient of bonus