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lilybear1700
01.01.2021 •
Business
Turner, Roth, and Lowe are partners who share income and loss in a 1:4:5 ratio (in percents: Turner, 10%; Roth, 40%; and Lowe, 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $130,800; total liabilities, $82,000; Turner, Capital, $2,900; Roth, Capital, $14,200; and Lowe, Capital, $31,700. Cash received from selling the assets was sufficient to repay all but $30,000 to the creditors. Exercise 12-13 Liquidation of partnership LO P5 Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners. c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency.
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Ответ:
Turner, Roth, and Lowe
a. Loss from selling the assets = $78,800
b. Loss allocation to the partners:
Turner Roth Lowe
Loss sharing ($78,800) $7,880 $31,520 $39,400
c. Capital contribution to cover deficiency:
Turner Roth Lowe
Contribution to cover deficiency $3,000 $12,000 $15,000
Explanation:
a) Data and Calculations:
Turner Roth Lowe
Income and loss sharing ratio: 1 4 5
Assets before liquidation = $130,800
Liabilities = $82,000
Capital balances $2,900 $14,200 $31,700
Cash received from sale of assets = $52,000 ($82,000 - $30,000)
Loss from sale of assets = $78,800 ($130,800 - $52,000)
Loss sharing ($78,800) $7,880 $31,520 $39,400
Contribution to cover deficiency $3,000 $12,000 $15,000
Ответ:
The forces between you and the rock are balanced.
Explanation:
Static friction opposes the applied force. Static friction is a self - regulating opposing type of force which increases with increase in applied force until a critical limit. Since the weight of rock is huge, the critical limit is also very large in value. We need to apply a large amount of force to reach the critical limit. For now the applied force is balanced with friction. The hence the block doesn't move!