The writer is very fast, professional and responded to the review request fast also. Thank you.
Presentation/PPT
27/08/2022
The Keaton, Lewis, and Meador partnership had the following balance sheet just before entering liquidation:Keaton, Lewis, and Meador share profits and losses in a ratio of 2:4:4. Noncash assets were sold for $180,000. Liquidation expenses were $10,000.Assume that Lewis was personally insolvent and could not contribute any assets to the partnership, while Keaton and Meador were both solvent. What amount of cash would Keaton have received from the distribution of partnership assets? $38,000. $30,000. $24,000. $34,000. $31,600. The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances:Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.Before liquidating any assets, the partners determined the amount of cash available for safe payments. How should the amount of safe cash payments be distributed? In a ratio of 2:4:4 among all the partners. $18,333 to Henry and $16,667 to Jacobs. In a ratio of 1:2 between Henry and Jacobs. $15,000 to Henry and $10,000 to Jacobs. $21,667 to Henry and $3,333 to Jacobs. Gonda, Herron, and Morse is considering possible liquidation because partner Morse is personally insolvent. The partners have the following capital balances: $60,000, $70,000, and $40,000, respectively, and share profits and losses 30%, 45%, and 25%, respectively. The partnership has $200,000 in noncash assets that can be sold for $150,000. The partnership has $10,000 cash on hand, and $40,000 in liabilities. What is the minimum that partner Morse’s creditors would receive if they have filed a claim for $50,000? $0. $27,500. $45,000. $47,500. $50,000. The following account balances were available for the Perry, Quincy, and Renquist partnership just before it entered liquidation:Inlcuded in Perry’s capital balance is a $20,000 partnership loan owed to Perry. Perry, Quincy, and Renquist shared profits and losses in a ratio of 2:4:4. Liquidation expenses were expected to be $15,000.All partners were solvent.What amount would noncash assets need to be sold for in order for any partner to receive some cash? $185,000 $170,000 $165,000 $ 95,000 $ 90,000 The following account balances were available for the Perry, Quincy, and Renquist partnership just before it entered liquidation:Inlcuded in Perry’s capital balance is a $20,000 partnership loan owed to Perry. Perry, Quincy, and Renquist shared profits and losses in a ratio of 2:4:4. Liquidation expenses were expected to be $15,000.All partners were solvent.What would be the minimum amount for which the noncash assets must have been sold, in order for Quincy to receive some cash from the liquidation? Any amount in excess of $170,000. Any amount in excess of $190,000. Any amount in excess of $260,000. Any amount in excess of $280,000. Any amount in excess of $300,000.
The writer is very fast, professional and responded to the review request fast also. Thank you.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more