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What is the minimum amount that bell creditors would receive

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

Bell, capital $113,500

Hardy, capital $94,000

Dennard, capital $9,000

Suddath, capital $105,000

Bell's creditors have filed a $46,000 claim against the partnership's assets. The partnership currently holds assets of $550,000 and liabilities of $228,500. If the assets can be sold for $315,000, what is the minimum amount that Bell's creditors would receive?

Reference no: EM132161369

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