A partnership has liquidated all assets but still reports the following account balances: Beck, loan Cisneros, capital (40%) Beck, capital (20%) Sadak, capital (10%) Emerson, capital (20%) Page, capital (10%) $ The partners split profits and losses as follows: Cisneros, 40 percent; Beck, 20 percent; Sadak, 10 percent; Emerson, 20 percent; and Page 10 percent. Sadak contribution 9,000 4,800 (9,600) (deficit) (10,400) (deficit) 15,600 (15,000) (deficit) Assuming that all partners are personally insolvent except for Sadak and Emerson, how much cash must Sadak now contribute to this partnership? (Do not round intermediate calculations. Round the final answer to nearest dollar amounts.) $ (14,000)
A partnership has liquidated all assets but still reports the following account balances: Beck, loan Cisneros, capital (40%) Beck, capital (20%) Sadak, capital (10%) Emerson, capital (20%) Page, capital (10%) $ The partners split profits and losses as follows: Cisneros, 40 percent; Beck, 20 percent; Sadak, 10 percent; Emerson, 20 percent; and Page 10 percent. Sadak contribution 9,000 4,800 (9,600) (deficit) (10,400) (deficit) 15,600 (15,000) (deficit) Assuming that all partners are personally insolvent except for Sadak and Emerson, how much cash must Sadak now contribute to this partnership? (Do not round intermediate calculations. Round the final answer to nearest dollar amounts.) $ (14,000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A7

Transcribed Image Text:A partnership has liquidated all assets but still reports the following account balances:
Beck, loan
Cisneros, capital (40%)
Beck, capital (20%)
Sadak, capital (10%)
Emerson, capital (20% )
Page, capital (10%)
The partners split profits and losses as follows: Cisneros, 40 percent; Beck, 20 percent;
Sadak, 10 percent; Emerson, 20 percent; and Page 10 percent.
$ 9,000
4,800
(9,600) (deficit)
(10,400) (deficit)
15,600
(15,000) (deficit)
Assuming that all partners are personally insolvent except for Sadak and Emerson, how
much cash must Sadak now contribute to this partnership? (Do not round intermediate
calculations. Round the final answer to nearest dollar amounts.)
Sadak
contribution
$ (14,000)
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