Solution-How much cash will macki receive as a result of

How much cash will macki receive as a result of liquidation

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Q1. Partners Ken and Macki each have a capital balance of $40,000 and share profit/loss in a 3:2 ratio. Cash equals $20,000, noncash assets equal $120,000, and liabilities equal $60,000. They decide to liquidate the partnership and the noncash assets are sold for $60,000. Both partners agree to make up any capital deficits with personal cash contributions. How much cash will Macki receive as a result of the liquidation?

A) $0

B) $4,000

C) $16,000

D) $244,00

Q2. On January 1st, 2019, Hanson Corporation has 15,000, $2.60 cumulative preferred shares and 20,000 common shares. Hanson did not pay any dividends during the previous year ended December 31st, 2018. The company pays $45,000 of dividends during 2019. Which of the following amounts represents the amount of dividends that the preferred shareholders would receive in 2019?

A) $45,000

B) $39,000

C) 15,000

D) 15,000

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How much cash will macki receive as a result of liquidation

Reference no: EM132604164

Reference no: EM132604164

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