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836 Chapter 16 Paersip: Ligeidation c Ratio of the capital contributions by the partners d Ratio of capital contributions less withdrawals by the partners (Note: The following information is for questions 3 through 5.) The balance sheet for the Art, Blythe, and Cooper Partnership is as follows. Figures shown parenthetically reflect agreed profit and loss-sharing percentages Liabilities and Capital Cash Other Assets 20,000 180,000 Lisbities Art, Capital (40%) Blythe. Capital (40%) Coope, Capital (20%) 5 50,000 7,000 65,000 48,000 Total 5200.000 Total 3. If the firm, as shown on the balance sheet, is dissolved and liquidated by selling assets in install ments and if the first sale of noncash assets harving a book value of $90,000 realizes 550,000 and all cash available after settlement with credinors is distributed, the respective partners would receive (to the nearest dollar) Art Blythe Cooper a $8,000 8,000 4,000 b $6,667 6,667 6,666 c $0 $13,333 5 6,667 S $ 3,000 $17.000 4. If the facts are as in question 3 except that $3,000 cash is to be withheld, the respective partners would then receive (to the nearest dollar) Art Blythe Cooper a $6,800 6,800 3,400 b. $5,667 $5,667 % 5,666 cS011,333 5,667 s 0 1,000 $16,000 5. If each partner properly received some cash in the distribution after the secoed sale, if the cash to be distributed amounts to $12,000 from the third sale, and if unsold assets with an $8,000 book value remain, ignoring questions 3 and 4, the respective partners would receive Art Blythe Cooper $4,800 $ 4,800 $ 2,400 5 4,000 $ 4,000 $ 4,000 c 37/150 65/150 48/150 of of of 12,000 $12,000 $12,000 d $ $ 8,000 4,000 6. The following condensed bulance sheet is for the partnership of Amie, Bart, and Kurt, who share profits and losses in the ratio of 4:3:3, respectively Assets Liabilities and Capital $150,000 40,000 $100,000 iabiies Cash Other Assets 300,000 Arnie, Capital Bart, Capital Kurt, Capital Total $400,000 Total 836 Chapter 16 Paersip: Ligeidation c Ratio of the capital contributions by the partners d Ratio of capital contributions less withdrawals by the partners (Note: The following information is for questions 3 through 5.) The balance sheet for the Art, Blythe, and Cooper Partnership is as follows. Figures shown parenthetically reflect agreed profit and loss-sharing percentages Liabilities and Capital Cash Other Assets 20,000 180,000 Lisbities Art, Capital (40%) Blythe. Capital (40%) Coope, Capital (20%) 5 50,000 7,000 65,000 48,000 Total 5200.000 Total 3. If the firm, as shown on the balance sheet, is dissolved and liquidated by selling assets in install ments and if the first sale of noncash assets harving a book value of $90,000 realizes 550,000 and all cash available after settlement with credinors is distributed, the respective partners would receive (to the nearest dollar) Art Blythe Cooper a $8,000 8,000 4,000 b $6,667 6,667 6,666 c $0 $13,333 5 6,667 S $ 3,000 $17.000 4. If the facts are as in question 3 except that $3,000 cash is to be withheld, the respective partners would then receive (to the nearest dollar) Art Blythe Cooper a $6,800 6,800 3,400 b. $5,667 $5,667 % 5,666 cS011,333 5,667 s 0 1,000 $16,000 5. If each partner properly received some cash in the distribution after the secoed sale, if the cash to be distributed amounts to $12,000 from the third sale, and if unsold assets with an $8,000 book value remain, ignoring questions 3 and 4, the respective partners would receive Art Blythe Cooper $4,800 $ 4,800 $ 2,400 5 4,000 $ 4,000 $ 4,000 c 37/150 65/150 48/150 of of of 12,000 $12,000 $12,000 d $ $ 8,000 4,000 6. The following condensed bulance sheet is for the partnership of Amie, Bart, and Kurt, who share profits and losses in the ratio of 4:3:3, respectively Assets Liabilities and Capital $150,000 40,000 $100,000 iabiies Cash Other Assets 300,000 Arnie, Capital Bart, Capital Kurt, Capital Total $400,000 Total

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