The following account balances were available for the perry, quincy, and renquist partnership just before it entered liquidation: cash 90,000 liabilities 170,000 non cash assets 300,000 perry capital 70,000 quincy's capital 50,000 renquist capital 100,000 total 390,000 390,000 inlcuded in perry's capital balance is a $20,000 partnership loan owed to perry. perry, quincy, and renquist shared profits and losses in a ratio of 2: 4: 4. liquidation expenses were expected to be $15,000.all partners were solvent. what would be the minimum amount for which the noncash assets must have been sold, in order for quincy to receive some cash from the liquidation? answer is any amount in excess of 190,000. how do i get this answer in detail? ?

The maximum tax rate on estates and gifts

On july 1, 2016, killearn company acquired 103,000 of the outstanding shares of shaun company for $21 per share. this acquisition gave killearn a 40 percent ownership of shaun and allowed killearn to significantly influence the investee's decisions. as of july 1, 2016, the investee had assets with a book value of $6 million and liabilities of $1,468,500. at the time, shaun held equipment appraised at $140,000 above book value; it was considered to have a seven-year remaining life with no salvage value. shaun also held a copyright with a five-year remaining life on its books that was undervalued by $562,500. any remaining excess cost was attributable to goodwill. depreciation and amortization are computed using the straight-line method. killearn applies the equity method for its investment in shaun. shaun's policy is to declare and pay a $1 per share cash dividend every april 1 and october 1. shaun's income, earned evenly throughout each year, was $580,000 in 2016, $606,600 in 2017, and $649,200 in 2018. in addition, killearn sold inventory costing $93,000 to shaun for $155,000 during 2017. shaun resold $97,500 of this inventory during 2017 and the remaining $57,500 during 2018.a. determine the equity income to be recognized by killearn during each of these years. 2016 2017 2018b. compute killearn’s investment in shaun company’s balance as of december 31, 2018.

Lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal.