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Please highlight answer, thank you The partnership of Winn, Xie, Yang, and Zed has the following balance sheet: $ 50,000 305,000 $ 60,000 80,000 105,000
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The partnership of Winn, Xie, Yang, and Zed has the following balance sheet: $ 50,000 305,000 $ 60,000 80,000 105,000 60,000 50,000 Liabilities Winn, capital (50% of profits and losses) Xie, capital (30%) Yang, capital (10%) Zed, capital (10%) Cash Other assets Zed is personally insolvent, and one of his creditors is considering suing the partnership for the $4,000 that is currently owed. The creditor realizes that this litigation could result in partnership liquidation and does not wish to force such an extreme action unless Zed is reasonably sure of obtaining at least $4,000 from the liquidation. Determine the amount for which the partnership must sell the other assets to ensure that Zed receives $4,000 from the liquidation. Liquidation expenses are expected to be $35,000. (Do not round intermediate calculations.) Minimum amountStep by Step Solution
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