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The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets 67,920 122,000 Liabilities Delphine, capital Xavier, capital Olivier, capital Total liabilities
The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets 67,920 122,000 Liabilities Delphine, capital Xavier, capital Olivier, capital Total liabilities and capital $ 45,500 84,400 51,000 9,020 $ 189,920 Total assets $ 189,920 Delphine, Xavier, and Olivier share profits and losses in the ratio of 5:4:1, respectively. The partners have agreed to terminate the business and estimate that $14,200 in liquidation expenses will be incurred. a. What is the amount of cash that safely can be paid to partners prior to liquidation of noncash assets? b. Calculate the amount of safe payment that can be made to each partner prior to liquidation of noncash assets. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the amount of safe payment that can be made to each partner prior to liquidation of noncash assets. Delphine Xavier Olivier Safe payments
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