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The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 75,840 144,000 Liabilities Delphine, capital Xavier, capital Olivier, capital
The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 75,840 144,000 Liabilities Delphine, capital Xavier, capital Olivier, capital $ 51,000 65,520 62,000 41,320 Total assets $ 219,840 Total liabilities and capital $ 219,840 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 $16,400 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? 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 < Required A Required B > b. Calculate the amount of safe payment that can be made to each partner prior to liquidation of noncash assets. Required A Required B Calculate the amount of safe payment that can be made to each partner prior to liquidation of noncash assets. Safe payments Delphine Xavier Olivier
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