Prior to liquidating their partnership, bonilla and perez had capital accounts of $185,000 and $245,000, respectively. the partnership assets were sold for $30,000. the partnership had no liabilities. bonilla and perez share income and losses equally.
a. determine the amount of bonilla's deficiency.
b. determine the amount distributed to perez, assuming bonilla is unable to satisfy the deficiency.

To determine Bonilla’s deficiency -- $ (15,000)

To determine the amount distributed to Perez, assuming Bonilla is unable to satisfy the deficiency -- $30,000. ($245,000 – $200,000 share of loss – $15,000 Bonilla’s deficiency; also equals the amount realized from asset sales)

Explanation:

Step A:

Bonilla’s equity prior to liquidation                                              $ 185,000  

Realization of assets sails                                     $ 30,000  

Book value of assets*                                           $ 430,000  

Loss liquidation                                                     $(400,000)  

Bonilla’s share of loss (50% × –$400,000)……                            $(200,000)

Bonilla’s deficiency…………………………………                                     $ (15,000)  

 * $185,000 + $245,000

Step B:

$30,000. ($245,000 – $200,000 share of loss – $15,000 Bonilla’s deficiency; also equals the amount realized from asset sales)

no, a company likes to look at potential employees that are professional, well mannered, clean, honest, etc. don't show up looking/acting like a clown. (unless that's your job xd) hope this ! =^-^=