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    Aa, Capital First Cash Available To Priority 1-CC Total Cash Payment To Partner

    Uploaded by

    Garp Barroca
    This document outlines the cash balances and distributions for a partnership liquidation involving three partners - AA, BB, and CC. There were three installments of cash realization and distribution. In the first installment, $5,000 was paid to AA, $40,000 total was paid to partners. In the second installment, $12,000 was paid to partners. In the third installment, a $90,000 gain was realized and distributed with $72,500 paid to partners.

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    Aa, Capital First Cash Available To Priority 1-CC Total Cash Payment To Partner

    Uploaded by

    Garp Barroca
    43 views6 pages
    This document outlines the cash balances and distributions for a partnership liquidation involving three partners - AA, BB, and CC. There were three installments of cash realization and distribution. In the first installment, $5,000 was paid to AA, $40,000 total was paid to partners. In the second installment, $12,000 was paid to partners. In the third installment, a $90,000 gain was realized and distributed with $72,500 paid to partners.

    Original Title

    November 11

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    This document outlines the cash balances and distributions for a partnership liquidation involving three partners - AA, BB, and CC. There were three installments of cash realization and distribution. In the first installment, $5,000 was paid to AA, $40,000 total was paid to partners. In the second installment, $12,000 was paid to partners. In the third installment, a $90,000 gain was realized and distributed with $72,500 paid to partners.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    43 views6 pages

    Aa, Capital First Cash Available To Priority 1-CC Total Cash Payment To Partner

    Uploaded by

    Garp Barroca
    This document outlines the cash balances and distributions for a partnership liquidation involving three partners - AA, BB, and CC. There were three installments of cash realization and distribution. In the first installment, $5,000 was paid to AA, $40,000 total was paid to partners. In the second installment, $12,000 was paid to partners. In the third installment, a $90,000 gain was realized and distributed with $72,500 paid to partners.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    CASH

    Balances before Realization of NCA 50,000


    Realization and loss 15,000
    Balances after 1st installment 65,000
    Payment of liabilities -25,000
    Balances 40,000
    Payment to Partner- Schedule 1 -5,000
    Balances before 2nd installment 35,000
    Realization and loss 10,000
    Balances 45,000
    Payment of Partners - Schedule 2 -12,000
    Balances before 3rd installment 33,000
    Realization and Gain 90,000
    Balances 90,000
    Right of offset
    Balances 90,000

    LOST ABSORPTION BALANCE


    AA, CAPITAL
    BALANCES BEFORE REALIZATION 5,000
    ADD LOAN 15,000
    TOTAL PARTNERS' INTEREST 20,000
    DIVIDE BY : PROFIT AND LOSS RATIO 50%
    LOSS ABSORPTION ABILITY 40,000
    EXTINGUISHMENT:
    EXCESS OF CC OVER BB
    BALANCES 40,000
    EXCESS OF BB AND CC OVER AA
    BALANCES 40,000

    SCHEDULE O
    AA,CAPITAL
    FIRST CASH AVAILABLE
    To priority 1-CC
    Total cash payment to partner

    SECOND CASH AVIALABLE


    To priority 1- BB
    To priority 2 - BB and CC
    Total Cash payment to partners

    THIRD CASH AVAILABLE


    To priority 2 - BB and CC
    Excess cash 7,000
    Total cash payment to partners 7,000

    AA,CAPITAL
    BALANCES AFTER FIRST INSTALLMENT (12,500)
    ADD: LOAN 15,000
    TOTAL PARTNERS' INTEREST 2,500
    LESS: THEORITICAL LOSS (25,000)
    BALANCES (22,500)
    ABSORPTION:
    ADDITIONAL LOSS TO BB AND CC 45,000
    BALANCES 22,500
    ADDITIONAL LOSS TO BB
    BALANCES
    PAYMENT TO BB
    STATEMENT OF PARTNERSHIP LIQUIDATION
    50% 30% 20%
    NON-CASH LIABILITIES AA LOAN AA, CAPITAL BB, CAPITAL CC, CAPITAL
    100,000 25,000 15,000 5,000 60,000 45,000
    -50,000 -17,500 -10,500 -7,000
    50,000 25,000 15,000 -12,500 49,500 38,000
    -25,000 - - -
    50,000 15,000 -12,500 49,500 38,000
    -5,000
    50,000 - 15,000 -12,500 49,500 33,000
    -20,000 -5,000 -3,000 -2,000
    30,000 - 15,000 -17,500 46,500 31,000
    -14,000 -31,000
    30,000 - 15,000 -17,500 32,500 0
    -50,000 16,000 16,000 8,000
    - - 20,000 -13,000 55,333 27,667
    -13000 13000
    - - 7,000 - 55,333 27,667

    PTION BALANCE CASH PAYMENT


    BB, CAPITAL CC, CAPITAL AA, CAPITAL BB, CAPITAL CC, CAPITAL TOTAL
    60,000 45,000

    60,000 45,000
    30% 20%
    200,000 225,000

    -25,000 5000 5,000


    200,000 200,000
    -160,000 -160,000 48,000 32,000 80,000
    40,000 40,000 48,000 37,000 85,000

    SCHEDULE OF CASH DISTRIBUTION


    BB, CAPITAL CC, CAPITAL TOTAL
    40,000
    5,000 (5,000)
    5,000

    45,000
    31,000 (31,000)
    8,400 5,600 (14,000)
    8,400 36,600 -

    90,000
    48,333 24,167 (72,500)
    7,000 3,500 (17,500)
    55,333 27,667 -

    SCHEDULE NO.1
    SCHEDULE OF CASH PAYMENT
    BB, CAPITAL CC, CAPITAL TOTAL
    49,500 38,000 75,000

    49,500 38,000 75,000


    (15,000) (10,000) (50,000)
    34,500 28,000 25,000

    (30,000) (15,000)
    4,500 13,000 40,000
    (10,000) 10,000 -
    (5,500) 23,000 17,500
    -30000 (30,000)
    CC is the first priority = which means that cash should be given to BB first before the second priority receive any cash.

    BB and CC the second priority = which means that if the first priority is settled or paid BB and CC will receive whenever cash is
    rity receive any cash.

    will receive whenever cash is availabe

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