Cash Distribution Plan
Adams, Peters, and Blake share profits and losses for their APB Partnership in a ratio of 2:3:5. When they decide to liquidate, the balance sheet is as follows:
| Assets | Liabilities and Equities | ||
| Cash | 40,000
| Liabilites | 50,000 |
| Adams, Loan | 10,000 | Peters, Capital | 75,000 |
| Blake, Capital | 70,000 | ||
| Total Assets | 250,000 | Total Liabilities and Equities | 250,000 |
Liquidation expenses are expected to be negligible. No interest accrues on loans with partners after termination of the business.
Required
Prepare a cash distribution plan for the APB Partnership.
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