Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 14. the accounts of ab partnership after its nonca

14. The accounts of AB Partnership after its noncash assets were realized are as follows:...

60.1K

Verified Solution

Question

Accounting

image

14. The accounts of AB Partnership after its noncash assets were realized are as follows: Doble Credit Cash 34,000 Accounts payable 25,000 Loan payable to A 9,000 A Capital 8,000 B. Capital 8,000 In the settlement of the partner interest in the partnership, how much total cash did the two partners receive? 0 b. 1,000 a 8.000 d. 9,000 15. A B and C are partners. Their respective personal assets personal liabilities and partnership capital balances are as follows: A B C Personal assets 90.000 240,000 180,000 Personal liabilities 75,000 150,000 216,000 Capital balances 160.000 (96,000) 210,000 Which of the partneris personally insolvent D. A b. B G C d. B&C

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students