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  • Payment To Partners

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    Donna Mae Singson
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    This document outlines the liquidation of a partnership. It provides schedules showing the balances of cash, non-cash assets, and liabilities at different stages of the liquidation. It then shows how any losses or additional loans are absorbed by the partners, and how cash payments are made to the partners according to a priority schedule. Overall, it summarizes the financial status and cash distributions to partners as the partnership's assets are realized and liabilities paid during the liquidation process.

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    FOR BSA STUDENT

    Original Title

    Liquidation-Tables

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    This document outlines the liquidation of a partnership. It provides schedules showing the balances of cash, non-cash assets, and liabilities at different stages of the liquidation. It then shows how any losses or additional loans are absorbed by the partners, and how cash payments are made to the partners according to a priority schedule. Overall, it summarizes the financial status and cash distributions to partners as the partnership's assets are realized and liabilities paid during the liquidation process.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views3 pages

    Payment To Partners

    Uploaded by

    Donna Mae Singson
    This document outlines the liquidation of a partnership. It provides schedules showing the balances of cash, non-cash assets, and liabilities at different stages of the liquidation. It then shows how any losses or additional loans are absorbed by the partners, and how cash payments are made to the partners according to a priority schedule. Overall, it summarizes the financial status and cash distributions to partners as the partnership's assets are realized and liabilities paid during the liquidation process.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    STATEMENT OF PARTNERSHIP LIQUIDATION

    CASH NON-CASH LIABILITIES


    Balances before Realization of Non-Cash Assets
    Realization and              
    Balances after 1st installment
    Payment of liabilities              
    Balances
    Payment to Partner- Schedule 1              
    Balances before 2nd installment
    Realization and              
    Balances
    Payment of Partners - Schedule 2              
    Balances before 3rd installment
    Realization and              
    Balances
                 
    Balances
                 
    Balances
    Payment to partners

    SCHEDULE NO.1
    SCHEDULE OF CASH PAYMENT
    TOTAL
    BALANCES AFTER FIRST INSTALLMENT
    ADD: LOAN        
    TOTAL PARTNERS' INTEREST
    LESS: THEORITICAL LOSS        
    BALANCES
    ABSORPTION:
    ADDITIONAL LOSS TO AND        
    BALANCES
    ADDITIONAL LOSS TO        
    BALANCES
    PAYMENT TO        

    SCHEDULE NO.2
    SCHEDULE OF CASH PAYMENT
    TOTAL
    BALANCES AFTER SECOND INSTALLMENT
    ADD: LOAN        
    TOTAL PARTNERS' INTEREST
    LESS: THEORITICAL LOSS        
    BALANCES
    ABSORPTION:
    ADDITIONAL LOSS TO AND        
    BALANCES
    CASH PAYMENTS T0        

    CASH PRIORITY PROGRAM


    LOST ABSORPTION BALANCE CASH PAYMENT
    TOTAL
    BALANCES BEFORE REALIZATION
    ADD LOAN      
    TOTAL PARTNERS' INTEREST
    DIVIDE BY: PROFIT AND LOSS RATIO      
    LOSS ABSORPTION ABILITY
    EXTINGUISHMENT:
    EXCESS OF OVER      
    BALANCES
    EXCESS OF AND OVER              
    BALANCES

    SCHEDULE OF CASH DISTRIBUTION


    TOTAL
    FIRST CASH AVAILABLE
    To priority 1-BB        
    Total cash payment to partner        

    SECOND CASH AVIALABLE


    To priority 1-
    To priority 2 - and      
    Total Cash payment to partners      

    THIRD CASH AVAILABLE


    To priority 2 - BB and CC
    Excess cash        
    Total cash payment to partners        

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