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SB The following condensed balance sheet is... The following condensed balance sheet is...

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Accounting

SB The following condensed balance sheet is...

The following condensed balance sheet is presented for the partnership of D, E, and F who share profits and losses in the ratio of 5:3:2, respectively:

Cash $ 100,000
Other Assets 480,000
$ 580,000
Liabilities $ 160,000
D, Capital 200,000
E, Capital 130,000
F, Capital 90,000
Total $ 580,000

The partners agreed to liquidate the partnership after selling the other assets.

TB MC Qu. 16-12 Refer to the above information. If the other...

Refer to the above information. If the other assets are sold for $280,000, how much should F receive upon liquidation?

Multiple Choice

$50,000

Correct

$44,000

$76,000

$90,000

Please explain how to get 50,000

Answer & Explanation Solved by verified expert
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