Refers to the following information to answer questions 8 and 9 : A local partnership...
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Accounting
Refers to the following information to answer questions and : A local partnership was in the process of liquidating and reported the following Capital account balances:
Justice Capital Share for all profit and loss $
Zobart Capital
Douglass Capital
Douglass indicated that the $ deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $ that was then in the cash account.
How much of the $ in the cash account should Justice receive?
a $
b $
c $
d $
e $
How much of this money should Zobart receive?
a $
b $
c $
d $
e $
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