Please help me understand this....? -

As of January 1, 2007, the partnership of Canton, Yulls and Garr had the following account balances and percentages for the sharing of profits and losses:Cash $ 80,000Noncash assets 205,000Liabilities 47,000Canton, Capital (30%) 138,000Yulls, Capital (40%) 119,500Garr Capital (30%) (19,500)The partnership incurred losses in recent years and decided to liquidate. The liquidation expenses were expected to be $10,000.1) How much cash should have been distributed safely to partners at this time?2) How much cash should each partner have received at this time?

Since the non-cash asset value is over four times the total liabilities all but $10,000 of the cash can be distributed to the partners.The $70,000 should be distributed in the same proportion as the capital of each of the partners 30% each to Canton and Garr and 40% to Yulls).Hope this helpsJerry-the-bookkeeper