The trial balance for the MAD Partnership is as follows just before declaring bankruptcy.

Question 4 The trial balance for the MAD Partnership is as follows just before declaring bankruptcy. Cash $22,000 Other Assets $100,000 = Liabilities $21,000 Matt Loan $9,000 Matt Capital $45,000 Allen Capital $27,000 Dave Capital $20,000 Partners share profits in the ratio 45:30:25. (a) Prepare a schedule to show how available cash would be distributed to the partners after creditors are paid in full. Loss Absorption Potential Allen Matt Dave Assets Distribution Allen Matt Dave Type here to search o Bi e a H x H 9 State which partner would receive the first cash available and at what point and to what degree each of the remaining partners would participate in cash distributions. Allen Cash Distribution Plan Order of Cash Distribution Matt 0.45 Dave 0.25 Liabilities 0.3 1. First $21,000 % 2. Next $13,500 3. Next $7,500 4. Remainder Click if you would like to Show Work for this question: Open Show Work Question 4 The trial balance for the MAD Partnership is as follows just before declaring bankruptcy. Cash $22,000 Other Assets $100,000 = Liabilities $21,000 Matt Loan $9,000 Matt Capital $45,000 Allen Capital $27,000 Dave Capital $20,000 Partners share profits in the ratio 45:30:25. (a) Prepare a schedule to show how available cash would be distributed to the partners after creditors are paid in full. Loss Absorption Potential Allen Matt Dave Assets Distribution Allen Matt Dave Type here to search o Bi e a H x H 9 State which partner would receive the first cash available and at what point and to what degree each of the remaining partners would participate in cash distributions. Allen Cash Distribution Plan Order of Cash Distribution Matt 0.45 Dave 0.25 Liabilities 0.3 1. First $21,000 % 2. Next $13,500 3. Next $7,500 4. Remainder Click if you would like to Show Work for this question: Open Show Work