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A partnership is considering possible liquidation because one of the partners (Bell) is personally insolvent. Profits...

A partnership is considering possible liquidation because one of the partners (Bell) is personally insolvent. Profits and losses are divided on a 4:3:2:1 basis, respectively. Capital balances at the current time are

Bell, capital $ 72,500
Hardy, capital 65,000
Dennard, capital 11,000
Suddath, capital 89,000

Bell’s creditors have filed a $30,000 claim against the partnership’s assets. The partnership currently holds assets of $390,000 and liabilities of $152,500. If the assets can be sold for $235,000, what is the minimum amount that Bell’s creditors would receive?

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ekkarill92 answered 1 year ago
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