The following data applies to Questions 13 - 15:

Bill, Page, Larry, and Scott have decided to terminate their partnership. The partnership's balance sheet at the time they decide to wind up is as follows:

Cash $100,000	Accounts Payable $100,000
Noncash Assets $300,000	Bill,Capital 25,000
	Page, Capital 110,000
	Larry, Capital 100,000
	Scott, Capital 65,000
$400,000	$400,000

During the winding up of the partnership, the other assets are sold for $150,000 and the accounts payable are paid. Page and Larry are personally solvent, but Bill and Scott are personally insolvent. The partners share profits and losses in the ratio of 4:2:1:3.

13. Based on the preceding information, what amount will be paid out to Bill upon liquidation of the partnership?

A. $0 B. $25,000 C. $11,667 D. $2,500

14. Based on the preceding information, what amount will be paid out to Scott upon liquidation of the partnership?

A. $0 B. $2,500 C. $25,000 D. $65,000

15. Based on the preceding information, what amount will be distributed to Page and Larry upon liquidation of the partnership?

	Page	Larry
A)	$80,000	$85,000
B)	$110,000	$100,000
C)	$68,333	$79,167
D)	$11,667	$5,833

A. Option A B. Option B C. Option C D. Option D