The partnership of Anderson, Berry, Hammond, and Winwood is being liquidated. It currently holds cash of...
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The partnership of Anderson, Berry, Hammond, and Winwood is being liquidated. It currently holds cash of $20,000 but no other assets. Liabilities amount to $32,400. The capital balances are Anderson (30% of profits and losses) Berry (30%) Hammond (20%) Winwood (20%) $ 21,600 23,000 (20,000) (deficit) (37,000) (deficit) a. If both Hammond and Winwood are personally insolvent, how much money must Berry contribute to this partnership? b-1. If only Winwood is personally insolvent, how much money must Hammond contribute to the partnership? b-2. If only Winwood is personally insolvent, how will Hammond's contribution (funds) be disbursed? c. If only Hammond is personally insolvent, how much money should Anderson receive from the liquidation? (For all requirements, do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) 16762 a. Berry's contribution EA 5,500 b- Hammond's contribution $ 29,250 1. b- $ 12,400 2. C. Anderson should receive The partnership of Anderson, Berry, Hammond, and Winwood is being liquidated. It currently holds cash of $20,000 but no other assets. Liabilities amount to $32,400. The capital balances are Anderson (30% of profits and losses) Berry (30%) Hammond (20%) Winwood (20%) $ 21,600 23,000 (20,000) (deficit) (37,000) (deficit) a. If both Hammond and Winwood are personally insolvent, how much money must Berry contribute to this partnership? b-1. If only Winwood is personally insolvent, how much money must Hammond contribute to the partnership? b-2. If only Winwood is personally insolvent, how will Hammond's contribution (funds) be disbursed? c. If only Hammond is personally insolvent, how much money should Anderson receive from the liquidation? (For all requirements, do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) 16762 a. Berry's contribution EA 5,500 b- Hammond's contribution $ 29,250 1. b- $ 12,400 2. C. Anderson should receive
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