The equal DEF partnership has the following balance sheet: Cash and other assets...
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Accounting
The equal DEF partnership has the following balance sheet:
Cash and other assets $1,600,000
Recourse liabilities $800,000
Capital D $300,000
Capital E $250,000
Capital F $250,000
The profits and losses are allocated 50% to D, and 25% each to E and F. Under the partnership agreement there is a capital account deficit restoration provision.
How should the liability be allocated?
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