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How much is the safe payment that can be made

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Question - XYZ Partnership begins the liquidation process with the following balance sheet and profit and loss percentages:

Cash 600,000

Noncash Assets 400,000

Liabilities 250,000

X Capital (50%) 200,000

Y Capital (30%) 300,000

Z Capital (20%) 250,000

Liquidation expenses are estimated at $160,000. Assume any deficit in a partner's capital balance will not be repaid.

How much is the safe payment that can be made to the partners: (hint: must make a proposed schedule of liquidation).

Reference no: EM132543093

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