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    sykhai's Avatar
    sykhai Posts: 3, Reputation: 1
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    #1

    Mar 31, 2008, 07:27 PM
    Liquidation of a limited liabilty partnership
    3 partner share income and loss in a 1:4:5 ratio. First two partners are general and last is limited partner. Before liquidation total assets are 104,000; liabilities are 78,000; partner a capital 1,300; partner b capital 7,475; and partner c capital 17,225 the cash settlement repays all except 22,000 to creditors.

    How much does each partner pay of 22,000 liabilty?
    NihoMila's Avatar
    NihoMila Posts: 2, Reputation: 1
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    #2

    Mar 5, 2009, 11:30 PM

    Partners much absorb the cost only if they don't have enough cash once they sell their assets.
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