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  3. x, y, and z have capital balances of $30,000, $15,

X, Y, and Z have capital balances of $30,000, $15,000, and $5,000, respectively, in the...

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Accounting

X, Y, and Z have capital balances of $30,000, $15,000, and $5,000, respectively, in the XYZ Partnership. The general partnership agreement is silent as to the manner in which partnership losses are to be allocated but does provide that partnership profits are to be allocated as follows: 40% to X,25% to Y, and 35% to Z. The partners have decided to dissolve and liquidate the partnership. After paying all creditors, the amount available for distribution will be $20,000. X, Y, and Z are individually solvent. Z will
Personally have to contribute an additional $5,500.
Receive $7,000.
Receive $12,000.
Personally have to contribute an additional $5,000.

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