On April 5, 2020, T, D and I form a partnership investing cash of $105,000, $94,500 and $29,400, respectively. The partners share profits 3:2:2 and on October 29,2020, they have cash of $7,000 and other assets of $332,500, liabilities are $179,200. On this date, they decided to go out of business and sell all the assets for $210,000. I is solvent upto 10,500 of his personal assets that may, if necessary be used to meet partnership obligations. 

How much should be distributed to T upon liquidation of the partnership?

Answer rating: 100% (QA)

Total capital 105000 94500 29400 228900 Next we can calculate the share of each ... View the full answer