Page 82 - Demo

%u062c%u0645%u064a%u0639 %u0627%u0644%u062d%u0642%u0648%u0642 %u0645%u062d%u0641%u0648%u0638%u0629 %u0640 %u0627%u0625%u0644%u0639%u062a%u062f%u0627%u0621 %u0639%u0644%u0649 %u062d%u0642 %u0627%u0644%u0645%u0624%u0644%u0641 82 %u0628%u0627%u0644%u0646%u0633%u062e %u0623%u0648 %u0627%u0644%u0637%u0628%u0627%u0639%u0629 %u064a%u0639%u0631%u0636 %u0641%u0627%u0639%u0644%u0647 %u0644%u0644%u0645%u0633%u0627%u0626%u0644%u0629 %u0627%u0644%u0642%u0627%u0646%u0648%u0646%u064a%u0629His Personal Assets < Personal Liabilities) %u2026. So, he can't pay to cover his negative Capital Balancewe Allocate his Loss to other PartnersAdd the negative balance to his capital and deducted from other partners by their ratioExample (2)The following Balance Sheet of ABC Partnership is given as follows:Cash 10,000 Salaries Payable (10 Months) 50,000Non Cash Assets 90,000 Accounts Payable 10,000Capital (A) 20,000Capital (B) 15,000Capital (C) 5,000If the partners agreed to liquidate the Company and they share P & L in ratio 30%, 30%, 40%:On 1/5 the Assets were sold for $55,000. On 1/6 the company paid liquidation expenses $5,000.The creditors (A/P) give the company a discount of $3,000All partners are Solvent except Partner (C) he is insolventRequired: Prepare the Liquidation Table (Statement).Preparing balancesSalaries Payable are preferred within 6 months:Total Salaries Payable (50,000) is for (10 months), So Monthly Salaries = (50,000 %u00f7 10) = 5,000Preferred =5,000 x 6 months =30,000 Ordinary = 5,000 x 4 months= 20,000%u2022 Total Preferred Liabilities = Preferred Salaries Payable = 30,000%u2022 Total Ordinary Liabilities = A/P 10,000 + Ordinary Salaries Payable 20,000 = 30,000 (general partner)80If we have more than one partner with negative capital, we start to deal with the Insolvent first