Question
The following condensed balance sheet is for the partnership of Ludolf, Sambal, and Urad, who share profits and losses in the ratio of 6:2:2,
The following condensed balance sheet is for the partnership of Ludolf, Sambal, and Urad, who share profits and losses in the ratio of 6:2:2, respectively: Cash Other assets Liabilities Ludolf, capital $ 52,000 $ 38,000 152,000 72,000 Sambal, capital Urad, capital 72,000 22.000 Total assets 5 204,000 Total liabilities and capital 5 204,000 Required: a. Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time. b. For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation? Complete this question by entering your answers in the tabs below. Required A Required B Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time, Safe payments Ludolf Sambal Urad Required B> The following condensed balance sheet is for the partnership of Ludolf, Sambal, and Urad, who share profits and losses in the ratio of 6.2.2, respectively. Cash Other assets $ 52,000 152,000 Liabilities Ludolf, capital $ 38,000 72,000 Sambal, capital 72,000 Urad, capital 22,000 Total assets $204,000 Total liabilities and capital 5 204,000 Required: 8. Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time. b. For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation? Complete this question by entering your answers in the tabs below. Required A Required B For how much money must the other assets be sold so that each partner receives same amount of cash in a liquidation? Other assets must be sold
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