Question

Slocum, Ritzlin, and Herber have capital balances before liquidation of $9,000, $22,000, and $29,000, respectively. Cash balance is $46,000, and the partners share losses and gains in a 3:2:1 ratio. All noncash assets with a book value of $14,000 are sold, for a gain on realization of $27,000.
In your calculations assume that no liabilities are a factor. What will each partner receive in cash in the liquidation process?



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  • CreatedApril 24, 2014
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