In a partnership, Partners Roscoe, Tanner and Jess were sharing profits and losses in the...
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Accounting
In a partnership, Partners Roscoe, Tanner and Jess were sharing profits and losses in the ratio of 5:32. The partners decided to liquidate the business. On liquidation of the business, after all assets were relired and latespaid of Joss had a debit balance in his capital socount amounting to $24,000. A partners are solvent. What is the appropriano jumal entry to be recorded before any cash can be distributed between the partners Roscoe Capital 15.000 Tanner Capital 9,000 Sess Capital 24,000 b. Cash 24000 Roscoe Capital 15.000 Tanner Capital 9.000 Jess Capital 24000 Cash 24000 20 000 24000 Jess Capital
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