Chenard, Jennings, and Blair share profits and losses is 2:3:5, respectively. The balance sheet is: CHENARD, JENNINGS, AND BLAIR PARTNERSHIP Balance Sheet December 31, 2020 Assets Liabilities and Owners' Equity Cash $ 48100 Liabilities $150000 Noncash assets 282200 Chenard, Capital 60800 Jennings, Capital Blair, Capital 89700 29800 Total $330300 Total $330300 If the partnership is liquidated by selling the noncash assets for $194400 and creditors are paid in full, what is the amount of cash that can be safely distributed to each partner? Chenard, $33160; Jennings, $56220; Blair, $0. O Chenard, $43240; Jennings, $63360; Blair, $14100. O Chenard, $37600; Jennings, $54900; Blair, $0. O Chenard, $31660; Jennings, $57720; Blair, $O.
Chenard, Jennings, and Blair share profits and losses is 2:3:5, respectively. The balance sheet is: CHENARD, JENNINGS, AND BLAIR PARTNERSHIP Balance Sheet December 31, 2020 Assets Liabilities and Owners' Equity Cash $ 48100 Liabilities $150000 Noncash assets 282200 Chenard, Capital 60800 Jennings, Capital Blair, Capital 89700 29800 Total $330300 Total $330300 If the partnership is liquidated by selling the noncash assets for $194400 and creditors are paid in full, what is the amount of cash that can be safely distributed to each partner? Chenard, $33160; Jennings, $56220; Blair, $0. O Chenard, $43240; Jennings, $63360; Blair, $14100. O Chenard, $37600; Jennings, $54900; Blair, $0. O Chenard, $31660; Jennings, $57720; Blair, $O.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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