The Buarque, Monte, and Vinicius partnership reports the following accounts. Vinicius is personally insolvent and can contribute only an additional $$30,000$ to the partnership.

Cash $ $151,000$

Liabilities $56,000$

Monte, loan $62,000$

Buarque, capital $(50\%$ of profits and losses$)30,000$

Monte, capital $(25\%)39,000$

Vinicius, capital $(25\%)(36,000)($deficit$)$

Part B

Drawdy, Langston, and Pearl operate a local accounting firm as a partnership. After working together for several years, they have decided to liquidate the partnership$$s property. The partners have prepared the following balance sheet:

Cash $ $41,000$ Liabilities $ $48,500$

Drawdy, loan $26,000$ Langston, loan $31,000$

Noncash assets $192,000$ Drawdy, capital $(40\%)86,000$

Langston, capital $(30\%)71,000$

Pearl, capital $(30\%)22,500$

Total assets $ $259,000$ Total liabilities and capital $ $259,000$

The firm sells the noncash assets for $$141,000$; it will use $$36,000$ of this amount to pay liquidation expenses. All three of these partners are personally insolvent.

Part C

Drawdy, Langston, and Pearl operate a local accounting firm as a partnership. After working together for several years, they have decided to liquidate the partnership$$s property. The partners have prepared the following balance sheet:

Cash $ $41,000$ Liabilities $ $48,500$

Drawdy, loan $26,000$ Langston, loan $31,000$

Noncash assets $192,000$ Drawdy, capital $86,000$

Langston, capital $71,000$

Pearl, capital $22,500$

Total assets $ $259,000$ Total liabilities and capital $ $259,000$

The firm sells the noncash assets for $$141,000$; it will use $$27,000$ of this amount to pay liquidation expenses. All three of these partners are personally insolvent. Assume that the profits and losses are split $2$:$4$:$4$ to Drawdy, Langston, and Pearl, respectively.

Part D

Following the liquidation of all noncash assets, the partnership of Krups, Lindau, Riedel, and Schnee has the following account balances. Krups is personally insolvent.

Liabilities $ $9,000$

Krups, loan $27,000$

Krups, capital $(30\%$ of profits and losses$)(62,000)$ deficit

Lindau, capital $(30\%)(51,000)$ deficit

Riedel, capital $(20\%)36,000$

Schnee, capital $(20\%)41,000$