1 18. X, Y and Z are partners with capital of $11,000, $12,000 and $4,500. X...

 

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1 18. X, Y and Z are partners with capital of $11,000, $12,000 and $4,500. X has a loan due from the partnership to him of $2,000. Profits and losses are shared in the ratio of 4:5:1 respectively. The partnership has paid off all outside liabilities, and its remaining assets consist of $9,000 in cash and $20,500 of accounts receivable. The partners agree to dis- burse the $9,000 to themselves in such a way that, even if one of the receivables is real- ized, no partner will have been overpaid. Under these conditions, which of the following most nearly represents the amount to be paid to partner X? A. $1,960 B. $3,200 C. $4,800 D. $5,000 1 18. X, Y and Z are partners with capital of $11,000, $12,000 and $4,500. X has a loan due from the partnership to him of $2,000. Profits and losses are shared in the ratio of 4:5:1 respectively. The partnership has paid off all outside liabilities, and its remaining assets consist of $9,000 in cash and $20,500 of accounts receivable. The partners agree to dis- burse the $9,000 to themselves in such a way that, even if one of the receivables is real- ized, no partner will have been overpaid. Under these conditions, which of the following most nearly represents the amount to be paid to partner X? A. $1,960 B. $3,200 C. $4,800 D. $5,000

Answer rating: 100% (QA)

C 4800 is the correct option Calculated as X Y Z Capital ... View the full answer