The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively: Cash $ 62,000 Liabilities $ 41,000 Other assets 142,000 Miller, capital 72,000 Tyson, capital 72,000 Watson, capital 19,000 Total assets $ 204,000 Total liabilities and capital $ 204,000 a.Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time. b. For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation?

The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively: Cash $ 62,000 Liabilities $ 41,000 Other...

The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively:


Cash	$	62,000	Liabilities	$	41,000
Other assets		142,000	Miller, capital		72,000
			Tyson, capital		72,000
			Watson, capital		19,000
Total assets	$	204,000	Total liabilities and capital	$	204,000

a.Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time.

b. For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation?

Jun 09, 2022

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The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively: Cash $ 62,000 Liabilities $ 41,000 Other...

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