Q, R, S, and T are partners, sharing profits and losses 40%:20%:20%:20%, respectively. After sale of firm assets and payment of the available cash to the partnership creditors, a partnership trial balance and the personal status of each partner are as follows:

The partnership operates in a state that has adopted the Uniform Partnership Act.

Required:
A. What are the rights of the partnership creditors on the unpaid balance of $2,000?
B. What are the rights of the individual creditors of each partner?
C. Assuming that Q pays the partnership creditors, prepare a schedule to show how the settlement by the partners will be completed.
D. Indicate the amount of assets that will be available to the personal creditors of R after the settlement by the partners.
E. Indicate the amount of assets that will be available to the personal creditors of T after the settlement by thepartners.

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Personal Status Exclusive of Partnership Interest Partnershih Trial Balance Dehit Credit Partner Assets Liabilities Creditors Capital R, Capital S, Capital T, Capital S2,000 500 7,500 $15,000 8,000 15,000 6,000 $10,000 20,000 4,000 8,000 6,000 4,000 10,000 $10,000