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A partnership is considering possible liquidation because one of the partners (Bell) is personally insolvent. Profits and losses are divided on a 4:3:2:1 basis, respectively. Capital balances at the current time are
Bell, capital | $ | 88,500 |
Hardy, capital | 80,000 | |
Dennard, capital | 19,000 | |
Suddath, capital | 95,000 | |
Bell’s creditors have filed a $36,000 claim against the partnership’s assets. The partnership currently holds assets of $450,000 and liabilities of $167,500. If the assets can be sold for $265,000, what is the minimum amount that Bell’s creditors would receive?
rev: 11_27_2017_QC_CS-110177
Multiple Choice
$5,500
$7,300
$0
$14,500
Feb 08 2020 View more View Less
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