Question: PLEASE ANSWER QUESTION CORRECTLY AND SHIW WORK PLEASE!!! Hanson, James, and Smith, a partnership, is in the process of liquidating. The partners have the following
Hanson, James, and Smith, a partnership, is in the process of liquidating. The partners have the following capital account balances; $58,000,$58,000, and ($18,000) respectively. The partners share all profits and losses 16%,48%, and 36%, respectively. Smith has indicated that the ($18,000) deficit will be covered with a forthcoming contribution. The remaining partners have requested an immediate distribution of $40,000 in cash that is available. How should this cash be distributed? a. Hanson $28,594; James $11,406. b. Hanson $34,000; James $6,000. c. Hanson $22,000; James $18,000. d. Hanson $15,000 : James $25,000. e. Hanson $39,000; James $1,000
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