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The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 71,520 Liabilities $ 48,000 60,960 56,000 38,560 $ 203,520 132,000
The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 71,520 Liabilities $ 48,000 60,960 56,000 38,560 $ 203,520 132,000 Delphine, capital Xavier, capital Olivier, capital Total liabilities and capital Total assets S 203,520 Delphine, Xavier, and Olivier share profits and losses in the ratio of 3:4:3, respectively. The partners have agreed to terminate the a. What is the amount of cash that safely can be paid to partners prior to liquidation of noncash assets? b. Which partner should receive the cash distribution from (a)? 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 distributed The balance sheet for the Delphine, Xavier, and Olivier partnership follows $ 71,520 Liabilities s 48,000 60,960 56,000 38,560 203,520 Cash Noncash assets 132,000 Delphine, capital Xavier, capital Olivier, capital Total liabilities and capital Total assets S 203,520 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 $15,200 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. Which partner should receive the cash distribution from (a)? Complete this question by entering your answers in the tabs below Required A Required B Which partner should receive the cash distribution from (a)? Delphine OXavier Olivier
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