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the partnership of w x y and z has the following balance sheet cash 738151

The partnership of W, X, Y, and Z has the following balance sheet:

Cash . . . . . . . . . . . . . . . . . . $ 30,000

Liabilities . . . . . . . . . . . . .

$42,000

Other assets . . . . . . . . . . . . 220,000

W, capital (50% of

profits and losses) . . . . .

60,000

X, capital (30%) . . . . . . .

78,000

Y, capital (10%). . . . . . . .

40,000

Z, capital (10%) . . . . . . .

30,000

Z is personally insolvent, and one of his creditors is considering suing the partnership for the $5,000 that is currently due. The creditor realizes that liquidation could result from this litigation and does not wish to force such an extreme action unless the creditor is reasonably sure of getting the money that is due. If the partnership sells the other assets, how much money must it receive to ensure that $5,000 would be available from Z’s portion of the business? Liq uidation expenses are expected to be $15,000.

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