Partnerships A, B, and C are liquidated and the partnership books show the following balance sheet:...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Partnerships A, B, and C are liquidated and the partnership books show the following balance sheet: Cash $ 50,000 Accounts Payable $ 45,000 Inventory $ 70,000 Capital A $ 25,000 Capital B $ 30,000 Capital C $20,000 Total Assets $120,000 Total Liabilities $120,000 The ratio is as follows: A 45%, B 30%, C 25%. If the available cash is distributed immediately, how much does each partner earn? Partnerships A, B, and C are liquidated and the partnership books show the following balance sheet: Cash $ 50,000 Accounts Payable $ 45,000 Inventory $ 70,000 Capital A $ 25,000 Capital B $ 30,000 Capital C $20,000 Total Assets $120,000 Total Liabilities $120,000 The ratio is as follows: A 45%, B 30%, C 25%. If the available cash is distributed immediately, how much does each partner earn?
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
If r = bt2i + Ct3j, where b and c are positive constants, when does the velocity vector make an angle of 45.00 with the x and y- axes?
-
A company that manufactures three products a b and c requires two raw materials - labor and material - need to determine the optimal production that maximizes its total profit. A linear program was...
-
Partnerships A, B, and C are liquidated and the partnership books show the following balance sheet: Cash $ 50,000 Accounts Payable $ 45,000 Inventory $ 70,000 Capital A $ 25,000 Capital B $ 30,000...
-
Why does allocating an array of length \(n\) take time proportional to \(n\) ?
-
a. A statistics practitioner randomly sampled 10 observations and found x = 103 and s = 17. Is there sufficient evidence at the 10% significance level to conclude that the population mean is less...
-
A square silicon chip (k = 150 W/m. K) is of width w = 5 mm on a side and of thickness t = 1 mm. The chip is mounted in a substrate such that its side and back surfaces are insulated, while the front...
-
Estimate \(\mathrm{Sc}_{\mathrm{V}}\) for a saturated vapor mixture that is \(80 \mathrm{~mol} \%\) ethanol and \(20 \mathrm{~mol} \%\) water at \(1.0 \mathrm{~atm}\).
-
Wiring used by the Aircraft Division of Retina Manufacturing is currently purchased from outside suppliers at a cost of $75 per unit. However, the same materials are available from the Electronic...
-
Consider the following two scenarios for the economy and the expected returns in each scenario for the market portfolio, an aggressive stock A, and a defensive stock D. Rate of Return Scenario Bust...
-
Review the chapters opening case and some of the sample documents related to it. How do you think Debra handled the various stakeholders? Offer at least two suggestions for what she might have done...
-
Need Help Please! Read: Supply Chain Management: A Logistics Perspective, John J. Coyle; C. John Langley, Jr.; Robert A. Novack; Brian J. Gibson,11 th ed., : Ch.7 and answer questios below 1. What...
-
Find the general solution to the differential eauation y'cosx=ysinx+sin161xy'cosx=ysinx+sin161x Assume X(-/2,/2)x(-/2,/2), and use C (capital C) for your arbitrary constant.
-
A motorist traveling at 55 mph down a grade of 5% on a highway observes an accident involving an overturned truck ahead of him which completely blocked the road. If the motorist was able to stop his...
-
In this task, you are required to answer the questions by referring to the data table given below. The table shows 15 cases, college students, from a hypothetical study of student loan balances at...
-
A test of a driver's perception reaction time is being conducted on a special testing track with wet pavement and a driving speed of 55 mi/hr. When the driver is sober, a stop can be made just in...
-
Other Itemized Deductions (LO 5.10) During the 2023 tax year, Irma incurred the following expenses: Union dues Tax return preparation fee Brokerage fees for the purchase of stocks Uniform expenses...
-
Write the equation of the Hyperbola with vertices at (-3,6) and (1,6) and foci located at (-6,6) and (4,6).
-
A consumer magazine is evaluating five brands of trash compactors for their effectiveness in reducing the volume of typical household products that are discarded. In the experiment, each block...
-
Assume the following cost information related to May production, and only one manufacturing dement. What journal entries would be made to capture May production? Direct materials. Direct labor...
-
The following attributes are associated with the corporate form of organization. Identify each one. as either an advantage or a disadvantage of the corporate form over other forms of organization: 1....
-
Which of the following sentences is false? a. In the early days of corporations, the par value represented the market value of the stock. b. Par value represents the average value of the stock. c. In...
Study smarter with the SolutionInn App