Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 13 2 points save answer "partner a, partn

Question 13 2 points Save Answer "Partner A, Partner B, Partner C, and Partner D...

80.2K

Verified Solution

Question

Accounting

image
Question 13 2 points Save Answer "Partner A, Partner B, Partner C, and Partner D have decided to terminate their partnership. The partnership's balance sheet at the time they decide to wind up is as follows: Cash 100000, Noncash Assets 300000, Accounts Payable 100000, Partner A Capital 25000, Partner B Capital 110000, Partner C Capital 100000, Partner D Capital 65000. During the winding up of the partnership, the other assets are sold for $150,000 and the accounts payable are paid. Partner B and Partner C are personally solvent, but Partner A and Partner D are personally insolvent. The partners share profits and losses in the ratio of 4:2:1:3. what amount will be distributed to Partner B upon liquidation of the partnership?" 80000 11667 110000 68333

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