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How much money must the other assets be sold

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

Cash: $49,000
Other Assets: $135,000
Total Assets: $184,000

Liabilities: $39,000
Miller, Capital: $63,000
Tyson, capital: $63,000
Watson, Capital: $19,000
Total Liabilities and capital: $184,000

Problem A. Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time.

Problem B. For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation?

Reference no: EM132973990

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