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The partners of Oscar, Rose 8 Ethan LLP decided to liquidate on Apri 1, 2022....

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Accounting

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The partners of Oscar, Rose 8 Ethan LLP decided to liquidate on Apri 1, 2022. The balance sheet of the partnership is as follows, with the profit and loss ralio of 30%. 50%, and 20%, respectively. During April, $114,000 of accounts receivable was collected and the remainder is deemed uncollectible. A total of $148,000 was paid to accounts payable, after receiving a $37,000 credit memo from a creditor. $7,600 of liquidation expense was paid in April. The partnership estimate that future liquidation expense will amount to $ 6,500. Requirements: (1) Calculate the capital baltnce of each partner right after adjusting their loans from/to the partnership (i.e. what balances do they have after considering the loans). (3 points total) Answers: Dscar: A Rose: Ethan: Answers: Actual Loss= A Potential Loss= (3) Regardless of your previous answers, assume that after loan adjustments and Note that we assume Oscar has a deficit here. Complete th of calculation and det le the safe cash payment to each partner. Rounc youi answers to the nearest doliars when needed. (4.5 points total) Answers: Oscar: A Rose: A Ethan: A

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