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Turner, Roth, and Lowe are partners who share income and loss in a 2:3:5 ratio...

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Accounting

Turner, Roth, and Lowe are partners who share income and loss in a 2:3:5 ratio (in percents: Turner, 20%; Roth, 30%; and Lowe, 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $159,600; total liabilities, $106,000; Turner, Capital, $5,300; Roth, Capital, $15,400; and Lowe, Capital, $32,900. The liquidation resulted in a loss of $95,600. Exercise 12-14 (Algo) Liquidation of limited partnership LO P5 Assume that the Turner, Roth, and Lowe partnership is a limited partnership. Turner and Roth are general partners. Lowe is a limited partner, meaning any remaining deficiency in Lowes capital account is covered by Turner and Roth. Determine how much, if any, each partner sho

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