Jake, Sacha, and Brianne own a tour company called Adventure Sports. The partners share profit and losses in a 2:3:5 ratio. After lengthy disagreements among the partners and several unprofitable periods, the friends decided to liquidate the partnership. Before the liquidation, the partnership balance sheet showed total assets, $258,800; total liabilities, $216,000; Jake, Capital, $9,600; Sacha, Capital, $11,600; and Brianne, Capital, $21,600. The cash proceeds from selling the assets were sufficient to repay all but $61,000 to the creditors. Jake and Sacha are general partners and Brianne is a limited partner. How much of the remaining $61,000 liability should be paid by each partner? (Negative amounts should be indicated by minus sign. Leave no cell blank. Enter "0" when the answer is zero.) Cash to be paid to each partner Jake Sacha $ Brianne 0 $ Total 0
Jake, Sacha, and Brianne own a tour company called Adventure Sports. The partners share profit and losses in a 2:3:5 ratio. After lengthy disagreements among the partners and several unprofitable periods, the friends decided to liquidate the partnership. Before the liquidation, the partnership balance sheet showed total assets, $258,800; total liabilities, $216,000; Jake, Capital, $9,600; Sacha, Capital, $11,600; and Brianne, Capital, $21,600. The cash proceeds from selling the assets were sufficient to repay all but $61,000 to the creditors. Jake and Sacha are general partners and Brianne is a limited partner. How much of the remaining $61,000 liability should be paid by each partner? (Negative amounts should be indicated by minus sign. Leave no cell blank. Enter "0" when the answer is zero.) Cash to be paid to each partner Jake Sacha $ Brianne 0 $ Total 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Jake, Sacha, and Brianne own a tour company called Adventure Sports. The partners share profit and losses in a 2:3:5 ratio. After
lengthy disagreements among the partners and several unprofitable periods, the friends decided to liquidate the partnership. Before
the liquidation, the partnership balance sheet showed total assets, $258,800; total liabilities, $216,000; Jake, Capital, $9,600; Sacha,
Capital, $11,600; and Brianne, Capital, $21,600. The cash proceeds from selling the assets were sufficient to repay all but $61,000 to
the creditors. Jake and Sacha are general partners and Brianne is a limited partner.
How much of the remaining $61,000 liability should be paid by each partner? (Negative amounts should be indicated by minus sign.
Leave no cell blank. Enter "0" when the answer is zero.)
Cash to be paid to each partner
Jake
Sacha
$
Brianne
0 $
Total
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