As of January 1, 2021, the partnership of Carlin, Yearly, and Granite had the following account balances and percentages for the sharing of profits and losses: The partnership incurred losses in recent years and decided to liquidate. The liquidation expenses were expected to be $20,000.How much of the existing cash balance could be distributed safely to partners at this time?

Question

As of January 1, 2021, the partnership of Carlin, Yearly, and Granite had the following account balances and percentages for the sharing of profits and losses:  The partnership incurred losses in recent years and decided to liquidate. The liquidation expenses were expected to be $20,000.How much of the existing cash balance could be distributed safely to partners at this time?

Quizplus · Accepted Answer

The Answer of As of January 1, 2021, the partnership of Carlin, Yearly, and Granite had the following account balances and percentages for the sharing of profits and losses:  The partnership incurred losses in recent years and decided to liquidate. The liquidation expenses were expected to be $20,000.How much of the existing cash balance could be distributed safely to partners at this time?

As of January 1, 2021, the Partnership of Carlin, Yearly