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i, I have a question about part a of this problem. I don't know how to calculate the safe payments. Please help me. Take a look at the photo with my problem. The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively: Cash $51,000 Liabilities $49,000 Other assets 151,000 Miller, capital 66,000 Tyson, capital 66,000 Watson, capital 21,000 Total assets $202,000 Total liabilities and capital $202,000 a) Assuming no liquidation expenses, calculate the safe payments that can be made to partnersat this point in time. Miller Tyson Watson Safe payments $

i, I have a question about part a of this problem. I don't know how to calculate the safe payments. Please help me. Take a look at the photo with my problem. The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively: Cash $51,000 Liabilities $49,000 Other assets 151,000 Miller, capital 66,000 Tyson, capital 66,000 Watson, capital 21,000 Total assets $202,000 Total liabilities and capital $202,000 a) Assuming no liquidation expenses, calculate the safe payments that can be made to partnersat this point in time. Miller Tyson Watson Safe payments $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hi,

I have a question about part a of this problem. I don't know how to calculate the safe payments. Please help me. Take a look at the photo with my problem. 

The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively:

Cash $51,000      Liabilities $49,000

Other assets 151,000  Miller, capital 66,000

                                       Tyson, capital 66,000

                                       Watson, capital 21,000

Total assets $202,000   Total liabilities and capital $202,000

a) Assuming no liquidation expenses, calculate the safe payments that can be made to partnersat this point in time. 

                                     Miller          Tyson        Watson

Safe payments        $

 

 

 

Thanks,

Arkadii

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