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The partnership of Hendrick, Mitchum and Redding has the following account balances: Cash Noncash assets $ 54,000 153,000 Liabilities Hendrick, capital Mitchum, capital Redding capital

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The partnership of Hendrick, Mitchum and Redding has the following account balances: Cash Noncash assets $ 54,000 153,000 Liabilities Hendrick, capital Mitchum, capital Redding capital $44,000 122,00 83,000 (47,000) This partnership is being liquidated. Hendrick and Mitchum are each entitled to 30 percent of all profits and losses with the remaining 40 percent going to Redding a. What is the maximum amount that Redding might have to contribute to this partnership because of the deficit capital balance? b. How should the $10,000 cash that is presently available in excess of liabilities be distributed? c. If the noncash assets are sold for a total of 568 000, what is the minimum amount of cash that Hendrick could receive? (Do not round intermediate calculations.) $ 108,200 Maximum amount b Distributed Hendrick Mitchum Redding Minimum amount $ $ 22.000 88.000 $ 56.000

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