Question: The balance sheet given below is presented for the partnership of Janet, Anton, and Millet: Cash $60,000 Liabilities $80,000 Other Assets 150,000 Janet, Capital 80,000
The balance sheet given below is presented for the partnership of Janet, Anton, and Millet: Cash $60,000 Liabilities $80,000 Other Assets 150,000 Janet, Capital 80,000 Anton, Capital 30.000 Millet, Capital 20,000 Total 210,000 Total 210,000 The partners share profits and losses in the ratio of 5:3:2, respectively. The partners agreed to dissolve the partnership after selling the other assets for $50,000. On dissolution of the partnership, Janet should receive: O $0. O $30,000. O $10,000 O $80,000
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