Partner Bonus

Lilly has a capital balance of $93,000 after adjusting assets to fair market value. Lowman contributes $54,000 to receive a 30% interest in a new partnership with Lilly.

Determine the amount and recipient of the partner bonus.

Amount of bonus	$
Recipient of bonus

Liquidating Partnerships

Prior to liquidating their partnership, Todd and Montgomery had capital accounts of $76,000 and $110,000, 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 $166,000. The partnership had $9,000 of liabilities. Todd and Montgomery share income and losses equally.

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