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Posted: June 15th, 2022
OBAMA, BIDEN AND PUTIN FORMED A PARTNERSHIP
PROBLEM 2;OBAMA, BIDEN AND PUTIN FORMED A PARTNERSHIP WITH EACH PARTNER HAVING A 1/three SHARE. AFTER MANY SUCCESSFUL YEARS THEY HAVE DECIDED TO TERMINATE THE PARTNERSHIP. THE FOLLOWING BALANCE SHEET EXISTSASSETS: EQUITY:CASH $50,000 OBAMA CAPITAL $eight,000A/R $60,000 BIDEN CAPITAL $2,000INVENTORY $20,000 PUTIN CAPITAL $130,000LAND $10,000TOTAL $140,000 $140,000DUE TO PUTINâS EXCEPTIONAL NEGOTIATING SKILLS, THERE WILL BE NO COSTS TO LIQUIDATE THE PARTNERSHIPA) What, if any, protected funds can every of the partnerâs take?B) No associate has taken any protected funds, and the stock is offered for $5,000, now what protected funds can every of the partnerâs take?C) No associate has taken any protected funds, and the stock is offered for $5,000 and the land is offered for $31,000, now what protected funds can every of the partnerâs take?D) No associate has taken any protected funds, and the stock is offered for $5000, the land is offered for $31,000 and the receivables are offered for $24,000. Any associate with a destructive capital account is unable to pay into the partnership, how a lot does every associate gather at liquidation?E) No associate has taken any protected funds, and the stock is offered for $5000, the land is offered for $31,000 and the receivables are offered for $24,000. Any associate with a destructive capital account is ready to cowl their scarcity. How a lot does every associate gather or pay at liquidation?
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