The following balance sheet is for a local partnership in whichthe partners have become very unhappy with each other.

Cash	$	50,000		Liabilities	$	40,000
Land		180,000		Adams, capital		114,000
Building		170,000		Baker, capital		42,000
				Carvil, capital		80,000
				Dobbs, capital		124,000
Total assets	$	400,000		Total liabilities and capital	$	400,000

To avoid more conflict, the partners have decided to ceaseoperations and sell all assets. Using this information, answer thefollowing questions. Each question should be viewed as anindependent situation related to the partnership’sliquidation.

1. The $10,000 cash that exceeds the partnership liabilities is tobe disbursed immediately. If profits and losses are allocated toAdams, Baker, Carvil, and Dobbs on a 2:3:3:2 basis, respectively,how will the $10,000 be divided?
2. The $10,000 cash that exceeds the partnership liabilities is tobe disbursed immediately. If profits and losses are allocated on a2:2:3:3 basis, respectively, how will the $10,000 be divided?
3. The building is immediately sold for $95,000 to give total cashof $145,000. The liabilities are then paid, leaving a cash balanceof $105,000. This cash is to be distributed to the partners. Howmuch of this money will each partner receive if profits and lossesare allocated to Adams, Baker, Carvil, and Dobbs on a 1:3:3:3basis, respectively? (Do not round intermediatecalculations.)
4. Assume that profits and losses are allocated to Adams, Baker,Carvil, and Dobbs on a 1:3:4:2 basis, respectively. How much moneymust the firm receive from selling the land and building to ensurethat Carvil receives a portion? (Do not round intermediatecalculations.)