A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total...

A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The business’s balance sheet prior to the commencement of liquidation is as follows:


Cash	$	27,000	Liabilities	$	40,000
Noncash assets		254,000	Simpson, capital (20%)		18,000
			Hart, capital (40%)		40,000
			Bobb, capital (20%)		48,000
			Reidl, capital (20%)		135,000
Total assets	$	281,000	Total liabilities and capital	$	281,000

Prepare a predistribution plan for this partnership.

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ekkarill92 answered 10 months ago

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