The following balance sheet is for a local partnership in which the partners have become very unhappy with each other

Cash	$ 40,000	Liabilities	$ 30,000
Land	130,000	Adams, capital	80,000
Building	120,000	Baker, capital	30,000
		Carvil, capital	60,000
		Dobbs, capital	90,000
Total assets	$290,000	Total liabilities and capital	$290,000

To avoid more conflict, the partners have decided to cease operations and sell all assets Using this information, answer the following questions Each question should be viewed as an independent situation related to the partnership’s liquidation

a). The $10,000 cash that exceeds the partnership liabilities is to be disbursed immediately If profits and losses are allocated to Adams, Baker, Carvil, and Dobbs on a 2:3:3:2 basis, respectively, how will the $10,000 be divided?

b). The $10,000 cash that exceeds the partnership liabilities is to be disbursed immediately If profits and losses are allocated on a 2:2:3:3 basis, respectively, how will the $10,000 be divided?

c). The building is immediately sold for $70,000 to give total cash of $110,000 The liabilities are then paid, leaving a cash balance of $80,000 This cash is to be distributed to the partners How much of this money will each partner receive if profits and losses are allocated to Adams, Baker, Carvil, and Dobbs on a 1:3:3:3 basis, respectively?

d). Assume that profits and losses are allocated to Adams, Baker, Carvil, and Dobbs on a 1:3:4:2 basis, respectively How much money must the firm receive from selling the land and building to ensure that Carvil receives a portion?