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The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 65,040 114,000 Liabilities Delphine, capital Xavier, capital Olivier, capital Total
The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 65,040 114,000 Liabilities Delphine, capital Xavier, capital Olivier, capital Total liabilities and capital $ 43,500 54,120 47,000 34,420 $ 179,040 Total assets $ 179,040 Delphine, Xavier, and Olivier share profits and losses in the ratio of 3:4:3, respectively. The partners have agreed to terminate the business and estimate that $13,400 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 What is the amount of cash that safely can be paid to partners prior to liquidation of noncash assets? Cash that safely can be paid The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 65,040 114,000 Liabilities Delphine, capital Xavier, capital Olivier, capital Total liabilities and capital $ 43,500 54,120 47,000 34,420 $ 179,040 Total assets $ 179,040 Delphine, Xavier, and Olivier share profits and losses in the ratio of 3:4:3, respectively. The partners have agreed to terminate the business and estimate that $13,400 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 HERREREREREEEEEEE 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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