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Jake, Sachs and Brianne own a tour company called Adventure Sports. The partners share profits and losses in a 1:3:4 ratio. After Lengthy Dissagreements among
Jake, Sachs and Brianne own a tour company called Adventure Sports. The partners share profits and losses in a 1:3:4 ratio. After Lengthy Dissagreements among the partners and several unprofitable periods. the friends decided to liquadate the partnership. Before the liquidation, the partnership balance sheet showed assets, 260,100 total liabilities, 217,000 jake capital, 9700 sacha Capital, 11,700 and Brianne Captial, 21,700. The cash proceeds from selling the assets were sufficient to repay all but 62,000 to the creditors. Jake and Sacha are general partners and Brianne is a limited partner
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