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Due by Friday February 23rd @ 6pm est. Please make sure you understand assignment completely and are capable of doing it on time and correctly.
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Cash
Land
Building
$40.000
$130.000
$120.000
Total Assets
$290.000
Maximum Potential Loss on noncash assets
$250.000
Liabilities
Adams, Capital
Baker, Capital
Carvil, Capital
Dobbs, Capital
Total Liabilities & Capital
a)
$10.000
2
20%
Reported Balances
Assumed $250,000 Loss (2:3:3:2)
Potential Balances
Potential Loss from Deficits (1:1)
Current Cash Distribution
3
30%
3
30%
Adams, Capital
$80.000
$50.000
$30.000
$30.000
$0
Baker, Capital
$30.000
$75.000
-$45.000
2
20%
3
30%
Adams, Capital
$80.000
...
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