The balance sh the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 69,360 126,000 $ 46,500 58,680 Liabilities Delphine, capital Xavier, capital Olivier, capital 53,000 37,180 Total assets $ 195,360 Total liabilities and capital $ 195,360 Delphine, Xavier, and Olivier share profits and losses in the ratio of 3:4:3, respectively. The partners have agreed to terminate the business and estimate that $14,600 in liquidation expenses will be incurred. a. What is the amount of cash that safely can be paid to partners prior to liquidation of noncash assets? b. Calculate the amount of safe payment that can be made to each partner prior to liquidation of noncash assets. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the amount of safe payment that can be made to each partner prior to liquidation of noncash assets. Xavier Olivier Delphine Safe payments

The balance sh the Delphine, Xavier, and Olivier partnership follows: Cash Noncash assets $ 69,360 126,000 $ 46,500 58,680 Liabilities Delphine, capital Xavier, capital Olivier, capital 53,000 37,180 Total assets $ 195,360 Total liabilities and capital $ 195,360 Delphine, Xavier, and Olivier share profits and losses in the ratio of 3:4:3, respectively. The partners have agreed to terminate the business and estimate that $14,600 in liquidation expenses will be incurred. a. What is the amount of cash that safely can be paid to partners prior to liquidation of noncash assets? b. Calculate the amount of safe payment that can be made to each partner prior to liquidation of noncash assets. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the amount of safe payment that can be made to each partner prior to liquidation of noncash assets. Xavier Olivier Delphine Safe payments

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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