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{"ops":[{"insert":"Installment Payment to Partners\n\nOccurs when realization of non-cash assets takes longer periods and the partners want to receive cash as it becomes available rather than waiting until all non-cash assets are realized.\u00a0\u00a0\nLiquidation in installment is, therefore, a process of realizing some assets, paying creditors, paying the remaining available cash to partners, realizing additional assets, and making additional cash payment to partners until all non-cash assets are realized and all cash distributed.\nGeneral Principles Guiding Installment Payments\nThe only safe policy for determining cash payments to partners is assuming the worst case scenario:\n\u2022\tAssume a total loss on all remaining non cash-assets, and provide for all possible losses, including potential liquidation costs and unrecorded liabilities\n\u2022\tAny partner with a potential capital deficit will be unable to pay anything;\nThus, distribute each installment of cash as if no more cash will be forthcoming.\nTo illustrate, assume that the partners of UVW Partnership who share net income or loss in a 4:3:2 ratio decide to liquidate the partnership and distribute cash in installments. The balance sheet just prior to liquidation on July 5, 2020 is as follows:\n\nUVW Partnership\nBalance Sheet\nJuly 5, 1999\n\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Assets\t\t\t\t\tLiabilities & Partners\u2019 Capital\nCash\t\t\t\u00a0\u00a0\u00a0\u00a08,000\t     \t Liabilities\t\t\t61,000\nOther Assets\u00a0 192,000\t\ntotal.................200.000\t\nLiabilities and partner and capital \nLiability ......  61000\nU capital......40000\nV capital.......45000\nW capital.......54.000\nTotal..............200.000\n"}]}

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