A partnership has liquidated all assets but still reports thefollowing account balances:Beck, loan$...A partnership...

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Accounting

A partnership has liquidated all assets but still reports thefollowing account balances:
Beck, loan $ 6,000
Cisneros, capital (40%) 3,900
Beck, capital (20%) (12,300 ) (deficit)
Sadak, capital (10%) (8,300 ) (deficit)
Emerson, capital (20%) 15,000
Page, capital (10%) (6,300 ) (deficit)
The partners split profits and losses as follows: Cisneros, 40percent; Beck, 20 percent; Sadak, 10 percent; Emerson, 20 percent;and Page 10 percent.
Assuming that all partners are personally insolvent except forSadak and Emerson, how much cash must Sadak now contribute to thispartnership? (Do not round intermediate calculations. Roundthe final answer to nearest dollar amounts.)

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4.2 Ratings (474 Votes)

				Capital Balance
	Ratio	Weight	Share	Before adjustment	After Adjustment
	(a)	(b)	(c) = (b) X -$12600	(d)	(c) + (d)
Cisneros	40%	(40%/70%)	$ -7,200.00	$ 3,900	$ -3,300
Sadak	10%	(10%/70%)	$ -1,800.00	$ -8,300	$ -10,100
Emerson	20%	(20%/70%)	$ -3,600.00	$ 15,000	$ 11,400
Total	70%		$ -12,600	$ 10,600


	Total Deficit after setting off the loan amount of Beck:

	Beck, loan	=	$ 6,000
	Beck, capital	=	$ -12,300
	Page, capital	=	$ -6,300
	Total Deficit	=	$ -12,600

	Note: Deficit shall include the deficit of personally insolvent partners

				Capital Balance
	Ratio	Weight	Share	Before adjustment	After Adjustment
	(a)	(b)	(c) = (b) X -$3300	(d)	(c) + (d)
Sadak	10%	(10%/30%)	$ -1,100	$ -10,100	$ -11,200
Emerson	20%	(20%/30%)	$ -2,200	$ 11,400	$ 9,200
Total	30%		$ -3,300	$ 1,300


	Therefore, Sadak shall contribute $11,200

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In: AccountingA partnership has liquidated all assets but still reports thefollowing account balances:Beck, loan$...A partnership has liquidated all assets but still reports thefollowing account balances:Beck, loan$6,000Cisneros, capital (40%)3,900Beck, capital (20%)(12,300)(deficit)Sadak, capital (10%)(8,300)(deficit)Emerson, capital (20%)15,000Page, capital (10%)(6,300)(deficit)The partners split profits and losses as follows: Cisneros, 40percent; Beck, 20 percent; Sadak, 10 percent; Emerson, 20 percent;and Page 10 percent.Assuming that all partners are personally insolvent except forSadak and Emerson, how much cash must Sadak now contribute to thispartnership? (Do not round intermediate calculations. Roundthe final answer to nearest dollar amounts.)


Beck, loan	$	6,000
Cisneros, capital (40%)		3,900
Beck, capital (20%)		(12,300	)	(deficit)
Sadak, capital (10%)		(8,300	)	(deficit)
Emerson, capital (20%)		15,000
Page, capital (10%)		(6,300	)	(deficit)