Nelson, Osman, Peters, and Quincy have decided to terminate their partnership because of recurrent arguments among the partners.
The partnership's balance sheet when they decide to wind up follows:
During the windingup of the partnership, the other assets were sold for $ and the accounts payable were paid. Osman and
Peters are personally solvent, but Nelson and Quincy are personally insolvent.
Required:
Determine the amount of cash each partner will receive from the final distributions of the partnership for each of the following
independent cases of profit and loss ratios for Nelson, Osman, Peters, and Quincy respectively. Do not round intermediate
calculations. Round your final answers to nearest whole dollar.
a The partners share profits and losses in the ratio of :::b The partners share profits and losses in the ratio of ::: c The partners share profits and losses in the ratio of :::
