Question: A partnership has liquidated all assets but still reports the

A partnership has liquidated all assets but still reports the following account balances:
Loan from White . . . . . . . . . . . . . $ 6,000
Black, capital . . . . . . . . . . . . . . . . . 3,000
White, capital . . . . . . . . . . . . . . . . (9,000) (deficit)
Green, capital . . . . . . . . . . . . . . . . (3,000) (deficit)
Brown, capital . . . . . . . . . . . . . . . . 15,000
Blue, capital . . . . . . . . . . . . . . . . . (12,000) (deficit)
The partners split profits and losses as follows: Black, 30 percent; White, 30 percent; Green, 10 percent; Brown, 20 percent; and Blue, 10 percent.
Assuming that all partners are personally insolvent except for Green and Brown, how much cash must Green now contribute to this partnership?




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  • CreatedOctober 04, 2014
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