Question: DO NOT USE CHATGBT PLEASE. IF YOU DO PLEASE SKIP THIS BECAUSE YOU GET IT WRONG MORE TIMES THAN RIGHT. THANK YOU Liquidating Partnerships-Deficiency Prior

DO NOT USE CHATGBT PLEASE. IF YOU DO PLEASE SKIP THIS BECAUSE YOU GET IT WRONG MORE TIMES THAN RIGHT. THANK YOU

Liquidating Partnerships-Deficiency Prior to liquidating their partnership, Short and Russo had capital accounts of $17,000 and $68,000, respectively. The partnership assets were sold for $33,000. The partnership had no liabilities. Short and Russo share income and losses equally. Required: a. Determine the amount of Short's deficiency. x b. Determine the amount distributed to Russo, assuming that Short is unable to satisfy the deficiency. x

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