Alpha and Beta are partners who share income in the ratio of 1:2 and have...
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Accounting
Alpha and Beta are partners who share income in the ratio of 1:2 and have capital balances of $40,000 and $70,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $50,000. What amount of loss on realization should be allocated to Alpha? a. $20,000 b. $30,000 c. $60,000 d. $50,000
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