Page 85 - 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 85 %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%u0629(4) Paying part of Ordinary cash (-) 55,000 & Liabilities (-) 55,000We only pay 55,000 of the liabilities according to the available cash( 5) Allocating the unpaid ordinary to Partners The unpaid liabilities (-) 70,000 and allocating ( added) as Gains to Capital by Ratios(6) allocating Loss (B&C) to A Close all the partners%u2019 capitalAvailable cash to Liabilities = = 0,44Limited Partner has a limited responsibility toward the company%u2019s unpaid debts (the maximum loss to the limited partner is his capitalSo, when we allocate the loss to limited partner we compare his share of loss with his capital His share of loss > his capital His share of loss < his capitalHe will be allocated with his share of lossthe loss will be allocated to all partner according to their P&L ratiosHe will only lose his capitaland the remainder will be allocated to the other partner according to their P&L ratiosExample (4)following Balance Sheet of ABC Partnership is given as follows:Cash 45,000 Rent Payable (3 years) 36,000Non Cash Assets 800,000 Accounts Payable 139,000Capital (A) 265,000Capital (B) 245,000Capital (C) 160,000If the partners agreed to liquidate the Company and they share P & L in ratio 2, 3, 4On 1/5 the Assets were sold for $260,000. On 1/6 the company paid liquidation expenses $75,000.The partner (C) is limited, partner (A) is Insolvent, and partner (B) is solvent.Required: Prepare the Liquidation Table (Statement).Preparing balancesRent Payable are preferred within 2 years:Total Salaries Payable (36,000) is for (3 years), So rent for one year = (36,000 %u00f7 3) = 12,000Preferred =12,000 x 2 years =24,000 Ordinary = 12,000 x 1 year = 12,000%u2022 Total Preferred Liabilities = Preferred Salaries Payable = 24,000%u2022 Total Ordinary Liabilities = A/P 139,000 + Ordinary Rent Payable 12,000 = 1521,000 %u2022 Determine how to allocate the loss of selling noncash assets Gain or Loss = Selling price 260,000 %u2013 Book value800,000( 540,000)Remaining cash 55,000Unpaid liabilities 125,00083