Ice, Raiz, and wais sharing p/l ratio of 3:2:2 had capital balances of 105,000, 94500,29400 respectively. As of June 30, 2018 they had cash of 7000 and other assets of 332,500 and liabilities of 179,200. They decided to end business and sell all other assets for 210,000. Wais had personal assets of 10,500 that may be used to meet partnership obligations. How much would Raiz recognize at the end of liquidation?

Answer rating: 100% (QA)

Received from sell of assets 210000 Cah available 7000 Availab... View the full answer