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Question: liquidating partnershipscapital deficiency nettles king and tanaka are partners sharing...

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Liquidating Partnerships—Capital Deficiency

Nettles, King, and Tanaka are partners sharing income 3:2:1. After the firm's loss from liquidation is distributed, the capital account balances were: Nettles, $18,000 Dr.; King, $68,000 Cr.; and Tanaka, $45,000 Cr.

If Nettles is personally bankrupt and unable to pay any of the $18,000, 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.

Amount of Cash Received
Nettles King Tanaka
Capital balances after realization $ $ $
Distribution of partner deficiency
Capital balances after deficiency distribution
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