RECOMMENDED!!ACC 451-A partnership has liquidated all assets but still reports
A partnership has liquidated all assets but still reports the following account balances: Beck, loan $8,000 Cisneros, capital (40%) 5,000 Beck, capital (20%) (12,000)(deficit)Sadak, capital (10%) (8,000)(deficit)Emerson, capital (20%) 13,000 Page, capital (10%) (6,000)(deficit)The partners split profits and losses as follows: Cisneros, 40 percent; Beck, 20 percent; Sadak, 10 percent; Emerson, 20 percent; and Page 10 percent.Assuming that all partners are personally insolvent except for Sadak and Emerson, how much cash must Sadak now contribute to this partnership?
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