Lquidating Partnersh-Deficieney Prior to liquidating their partnership, Pepper and Haines had captal nunts of 20,000 and s.000, respectively. The partnership assets were sld for $42,000. The partnership had no labtes. Pepper and Haines share income and losses equally. Required: a. Determine the amount of Pepper's defcency b. Determine the amount distributed to ane, ming Pepper is unable te satily the defciency Liquidating Pertnenshps-Deficency Prior te liquidating their partnership, Peper and Hanes had cpital accounts of 20.000 and 0.000, repectively. The partnership assets were sold for 42,000. The pwrtnenship had no liablities. Pepper and Maines share income and losses egualy Required aDetermine the amunt of Pepper's defency Determine the amnt dutrbuted to Hene, uming Pepper is unateto y tthe defceny Preock Liquidating Partnerships-Deficiency Prior to liquidating their partnership, Pepper and Haines had capital accounts of $20,000 and $86,000, respectively. The partnership assets were sold for $42,000. The partnership had no liabilities. Pepper and Haines share income and losses equally. Required: a. Determine the amount of Pepper's deficiency. b. Determine the amount distributed to Haines, assuming Pepper is unable to satisfy the deficiency. Wh he at halanc Balance