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What is the minimum amount that bell creditors would receive

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Question - A local partnership is considering possible liquidation because one of the partners (Bell) is insolvent. Capital balances at the current time are as follows. Profits and losses are divided on a 4:3:2:1 basis, respectively.

Bell, Capital $86,000

Hardy, Capital $70,000

Dennard, Capital $20,000

Suddath, Capital $94,000

Bell's creditors have filed a $35,000 claim against the partnership's assets. The partnership currently holds assets reported at $440,000 and liabilities of $240,000. If the assets can be sold for $260,000, what is the minimum amount that Bell's creditors would receive?

Reference no: EM132008456

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