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What is the amount of cash that safely can be paid

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The balance sheet for the Delphine, Xavier, and Olivier partnership follows:

Cash$61,440

Liabilities$41,000

Noncash assets 104,000

Delphine, capital 73,600

Xavier, capital 42,000

Olivier, capital 8,840

Total assets$165,440

Total liabilities and capital$165,440

Delphine, Xavier, and Olivier share profits and losses in the ratio of 5:4:1, respectively. The partners have agreed to terminate the business and estimate that $12,400 in liquidation expenses will be incurred.

Question 1: What is the amount of cash that safely can be paid to partners prior to liquidation of noncash assets?

Question 2: Which partner should receive the cash distribution from (a)?

Reference no: EM132574396

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