Solved: Estimated expenses of liquidation were 10000 what amount of, Accounting Basics

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Estimated expenses of liquidation were 10000 what amount of

PROBLEM - The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances:

CASH 90000 LIABILITIES 60000

NON CASH ASSETS 300000 80000

110000 140000

TOTALS 390000 TOTALS 390000

Estimated expenses of liquidation were $10,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.

What amount of safe cash was available, based on the above information?

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Accounting Basics: Estimated expenses of liquidation were 10000 what amount of

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