Liquidating Partnerships Capital Deficiency Nettles King And Tanaka Are Partners

Liquidating —Capital 

Nettles, King, and Tanaka are partners sharing income 3:2:1. After the firm’s loss from  is distributed, the capital account balances were: Nettles, $30,000 Dr.; King, $111,000 Cr.; and Tanaka, $75,000 Cr.

If Nettles is personally bankrupt and unable to pay any of the $30,000, what will be the amount of cash received by King and Tanaka upon liquidation? If an amount is zero, enter in 0. Use the minus sign to indicate any deficiencies.

 

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