21 CC PP AA Total 31 TCC TAC Revaluation

Salary 14,000.00 14,000.00 X, Capital 202,000.00 156,500.00 45,500.00

Guaranteed 10,500.00 10,500.00 Y, Capital 208,000.00 183,500.00 24,500.00
Subtotal 10,500.00 14,000.00 24,500.00 Sub-Total 410,000.00 340,000.00 70,000.00
Remainder 12,500.00 5,000.00 17,500.00 Z, Investment 60,000.00 60,000.00
Net Income 12,500.00 10,500.00 19,000.00 42,000.00 Total 470,000.00 400,000.00 (70,000.00)

22 2.00 5.00 1.00

BB CC DD 32 E F G
Capital, Beg 100,000.00 200,000.00 200,000.00 Beg. Capital Balances 120,000.00 155,000.00 115,000.00
CC, Loan 100,000.00 Net Loss (35,000.00) (87,500.00) (17,500.00)
Sub-Total 100,000.00 300,000.00 200,000.00 Inventory Revaluation 3,000.00 7,500.00 1,500.00
Paid Cash (300K-244K) 16,000.00 (300,000.00) 40,000.00 Subtotal 88,000.00 75,000.00 99,000.00
Total 116,000.00 - 240,000.00 Share from Retirement (75K-70K) 3,333.00 (75,000.00) 1,667.00
TOTAL 91,333.00 - 100,667.00
23 Xander Agnes Kate
Capital Balance 69,000.00 (8,000.00) 58,000.00 33 Payment to F 70,000.00
Non cash Asset (40,000.00) (40,000.00) (40,000.00) Unadjusted Capital (75,000.00)
TOTAL 29,000.00 (48,000.00) 18,000.00 Sub-total (5,000.00)
P&L (3,000.00)
Total Revaluation (8,000.00)
24 A B C
Beginning Capital 300,000.00 600,000.00 480,000.00 E G
April 1, Withdrawal 380,000.00 Unadjusted Capital 88,000.00 99,000.00
May 1, Investment 1,120,000.00 945,000.00 Revaluation of Equipment (2,000.00) (1,000.00)
August 1, Investment 550,000.00 Ending Capital 86,000.00 98,000.00
December 1, withdrawal 153,500.00 105,000.00
TOTAL 1,230,000.00 1,873,500.00 1,530,000.00
DIVIDE: No. of Months 12.00 12.00 12.00 34 A B C
Average Capital 102,500.00 156,125.00 127,500.00 Capital Balance 5,000.00 15,000.00 30,000.00
Loss On Sale (40,000-110,000) (24,500.00) (31,500.00) (14,000.00)
25 A B C Total Liquidation Expense (4,725.00) (6,075.00) (2,700.00)
Interest 8,200.00 12,490.00 10,200.00 30,890.00 Sub-Total (24,225.00) (22,575.00) 13,300.00
Salaries 300,000.00 220,000.00 272,000.00 792,000.00 Absorption of B's Loss (14,365.90) 22,574.99 (8,209.09)
Bonus 21,667.14 21,667.14 Total (38,590.90) - 5,090.91
Remainder (65,457.14) (98,185.71) (294,557.14)
Net Income 242,742.86 155,971.43 550,000.00
35 G H I
A Capital Balance 10,000.00 25,000.00 20,000.00
Capital 110,000.00 Loan from G 25,000.00
Share in Net Income 242,743.00 Sub-Total 35,000.00 25,000.00 20,000.00
Total 352,743.00 Liquidation Expense (1800/.3) (1,800.00) (2,100.00) (2,100.00)
Sub-Total 33,200.00 22,900.00 17,900.00
26 and 27 Total Capital 658,500.00 Loss on Sale (12250/.35) (10,500.00) (12,250.00) (12,250.00)
Ratio 70% Cash Paid to Partners 22,700.00 10,650.00 5,650.00
R, Capital 460,950.00
P, Capital Ratio (358.5K/658.5K) 54.44% Cash Available 69,000.00
P, Capital 250,950.00 Total Liquidation Expense 6,000.00
Cash Beg (25,000.00)
R, Capital 460,950.00 Proceeds 50,000.00
P, Capital (250,950.00) Loss on sale 35,000.00
Q, Adjusted Capital 210,000.00 Book Value of Asset 85,000.00
Q, Unadjusted Capital (300,000.00)
Deduction of Capital (90,000.00) 36 Cash Available 69,000.00
Cash Paid to Partners (39,000.00)
Paid to Outside Creditors 30,000.00

28 TCC TAC Revaluation

P 358,500.00 289,380.00 54,900.00 37 Q R S
Q 300,000.00 235,620.00 36,600.00 Capital Balance 87,000.00 95,500.00 106,250.00
SUB-TOTAL 658,500.00 525,000.00 91,500.00 Loan's to/from Partners 8,000.00 (4,500.00) (6,500.00)
R - 225,000.00 Partnership Interest 95,000.00 91,000.00 99,750.00
TOTAL 658,500.00 750,000.00 91,500.00 P & L Ratio 25.00% 40.00% 35.00%
Maximum Possible Loss 380,000.00 227,500.00 285,000.00
Priority 1 (95,000.00)
29 X, Capital 150,000.00 Priority 2 (57,500.00) (57,500.00)
Y, Capital 180,000.00 Total 227,500.00 227,500.00 227,500.00
Old Partner's Capital 330,000.00 Q R S Total
Income 80,000.00 Priority 1 23,750.00 23,750.00
Old Partner's Adjusted Capital 410,000.00 Priority 2 13,854.00 19,396.00 33,250.00
Z, Investment 60,000.00 Total 37,604.00 - 19,396.00 57,000.00
Total Contributed Capital 470,000.00
Interest 0.15
Capital Credit, Z 70,500.00
38 Q R S Total
X Y Z Total Priority 1 (23,750-20,000) 3,750.00 3,750.00
30 Capital 150,000.00 180,000.00 330,000.00 Priority 2 8,854.00 12,396.00 21,250.28
Investment 60,000.00 60,000.00 Total 12,604.00 12,396.00 25,000.28
Adjustment 52,000.00 28,000.00 80,000.00 First Installment 20,000.00
Total 202,000.00 208,000.00 60,000.00 470,000.00 Total 32,604.00
MULTIPLY: Capital Ratio 15%
Z, Capital (70,500.00) 70,500.00
Bonus (6,825.00) (3,675.00) (10,500.00) 39 Safe Payment Schedule Harry Ron Hermione
Adjusted Capital 195,175.00 204,325.00 70,500.00 Capital Balance 33,000.00 25,000.00 35,000.00
Loan's to/from Partners (5,000.00) 6,000.00 (4,000.00)
No bonus to partner Partnership Interest 28,000.00 31,000.00 31,000.00
Loss on Sale (3,300.00) (12,100.00) (6,600.00)
Possible Loss (8,250.00) (30,250.00) (16,500.00)
Subtotal 16,450.00 (11,350.00) 7,900.00
Liquidation Expense (1,185.00) (4,345.00) (2,370.00)
Sub-total 15,265.00 (15,695.00) 5,530.00
Absorption of Loss (5,232.00) 15,695.00 (10,463.00)
Subtotal 10,033.00 - (4,933.00)
Absorption of Loss (4,933.00) 4,933.00
TOTAL 5,100.00

40 Harry Ron Hermione

Capital Balance 33,000.00 25,000.00 35,000.00
Loan's to/from Partners (5,000.00) 6,000.00 (4,000.00)
Partnership Interest 28,000.00 31,000.00 31,000.00
MULTIPLY: P & L Ratio 15.00% 55.00% 30.00%
Maximum Possible Loss 186,666.67 56,363.64 103,333.33
Priority 1 (83,333.00)
Priority 2 (46,969.36) (46,969.36)
Total 56,364.31 56,363.64 56,363.97

Harry Ron Hermione Total

Priority 1 11,000.00
Priority2
Total 11,000.00 11,000.00

Cash Available 11,000.00

Liquidation Expense 12,000.00
Total Liabilities 20,000.00
Proceeds (38,000.00)
Cash (15,000.00)
Cash Withheld (10,000.00)

41 BONUS

S C A
42 Capital Balance 250,000.00 380,000.00 200,000.00
Loans to/from partner (4,000.00) (30,000.00) 10,000.00
Subtotal 246,000.00 350,000.00 210,000.00
MULTIPLY: P & L Ratio 40.00% 40.00% 20.00%
Maximum Possible Loss 615,000.00 875,000.00 1,050,000.00
Priority 1 (175,000.00)
Priority 2 (260,000.00) (260,000.00)
TOTAL 615,000.00 615,000.00 615,000.00

S C A Total
Priority 1 35,000.00 35,000.00
Priority 2 104,000.00 52,000.00 156,000.00
Priority 7,110.00 7,110.00 3,555.00 17,775.00
Total 7,110.00 111,110.00 90,555.00 208,775.00

Cash Available for Distribution 208,775.00

Liquidation Expense 35,000.00
Additional Expense 18,000.00
Liabilities 225,000.00
Cash Beg (70,000.00)
Proceeds 416,775.00
Loss 9,225.00
Book Value 426,000.00

Full Partial Unsecured

Asset Liability Asset Liability Excess w/o Priority w/ Priority Free Assets
43 to 45 100% 100% 100% ERP 100%
NP (Long Term) and Land & Bldg 365,000.00 311,040.00 53,960.00
NP (Short term) and Inventory 58,800.00 138,240.00 79,440.00
Trading Securities 40,000.00
Collection of AR 25,000.00
Cash 5,000.00
Administrative Expense 51,500.00
Salaries 22,000.00
Taxes 13,000.00
Equipment 68,500.00
Accounts Payable 105,000.00
Accrued Expenses 23,000.00
Total 365,000.00 311,040.00 58,800.00 138,240.00 79,440.00 128,000.00 86,500.00 192,460.00

Total Free Assets 192,460.00

Unsecured Liability w/ Priority (86,500.00)
Total Net Free Assets 105,960.00

Total Net Free Assets 105,960.00

Unsecured Liability w/o Priority (207,440.00)
Estimated Deficit (101,480.00)

Total Net Free Assets 105,960.00

DIVIDE: Unsecured Liability w/o Priority 207,440.00
Estimated Recoverable Percentage 51.08%

Excess 79,440.00
MULTIPLY: Estimated Recoverable Percentage 51.08% 40,577.82
Inventories 58,800.00
Total Estimated Recovery 99,377.82

Unsecured Liability w/o Priority 128,000.00

MULTIPLY: Estimated Recoverable Percentage 51.08%
Total 65,382.18