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 Liabilities $ 44,000 $ 36,000 Other assets 120,000 Ludolf, capital 57,000 Sambal, capital 57,000 Urad, capital 14,000 Total Total liabilities and assets 164,000 capital 164,000 (Ctrl) Required A Required B Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time. Ludolf Sambal Urad Safe payments $ 14,000 14,000 14,000 Required A Required B > Required A Required B For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation? Other assets must be sold for an amount over 42,000 < Required A Required >
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