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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$111,000Hardy, capital 93,000Dennard, capital 10,000Suddath, capital 104,000 Bell's creditors have filed a $45,000 claim against the partnership's assets. The partnership currently holds assets of $540,000 and liabilities of $222,000. If the assets can be sold for $310,000, what is the minimum amount that Bell's creditors would receive?

Reference no: EM133111438

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