Question

A partnership has the following balance sheet just before final liquidation is to begin:


Liquidation expenses are estimated to be $12,000. The other assets are sold for $40,000. What distribution can be made to the partners?
a. –0– to Art, $1,500 to Raymond, $2,500 to Darby.
b. $1,333 to Art, $1,333 to Raymond, $1,334 to Darby.
c. –0– to Art, $1,200 to Raymond, $2,800 to Darby.
d. $600 to Art, $1,200 to Raymond, $2,200 toDarby.


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  • CreatedOctober 04, 2014
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