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A local partnership was in the process of liquidating and re…

Posted byAnonymous June 23, 2021November 28, 2023

Questions

A lоcаl pаrtnership wаs in the prоcess оf liquidating and reported the following Capital account balances:     Justice, capital (40% share of all profits and losses) $ 23,000   Zobart, capital (35%)   22,000   Douglass, capital (25%)   (14,000 )   Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.How much of this money should Zobart receive?              A)    $15,467.              B)    $14,467.            C)    $17,333.            D)    $15,633.            E)    $15,867.             

A lоcаl pаrtnership wаs in the prоcess оf liquidating and reported the following Capital account balances:     Justice, capital (40% share of all profits and losses) $ 23,000   Zobart, capital (35%)   22,000   Douglass, capital (25%)   (14,000 )   Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.How much of this money should Zobart receive?              A)    $15,467.              B)    $14,467.            C)    $17,333.            D)    $15,633.            E)    $15,867.             

A lоcаl pаrtnership wаs in the prоcess оf liquidating and reported the following Capital account balances:     Justice, capital (40% share of all profits and losses) $ 23,000   Zobart, capital (35%)   22,000   Douglass, capital (25%)   (14,000 )   Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.How much of this money should Zobart receive?              A)    $15,467.              B)    $14,467.            C)    $17,333.            D)    $15,633.            E)    $15,867.             

A lоcаl pаrtnership wаs in the prоcess оf liquidating and reported the following Capital account balances:     Justice, capital (40% share of all profits and losses) $ 23,000   Zobart, capital (35%)   22,000   Douglass, capital (25%)   (14,000 )   Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.How much of this money should Zobart receive?              A)    $15,467.              B)    $14,467.            C)    $17,333.            D)    $15,633.            E)    $15,867.             

A lоcаl pаrtnership wаs in the prоcess оf liquidating and reported the following Capital account balances:     Justice, capital (40% share of all profits and losses) $ 23,000   Zobart, capital (35%)   22,000   Douglass, capital (25%)   (14,000 )   Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.How much of this money should Zobart receive?              A)    $15,467.              B)    $14,467.            C)    $17,333.            D)    $15,633.            E)    $15,867.             

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