The following condensed balance sheet is presented for the partnership of Alfa and Beda, who share profits
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Cash- 45,000
Other assets- 625,000
Beda, loan- 30,000
$700,000
Accounts payable- 120,000
Alfa, capital- 348,000
Beda, capital- 232,000
$700,000
Instead of admitting a new partner, Alfa and Beda decide to liquidate the partnership. If the other assets are sold for $500,000, what amount of the available cash should be distributed to Alfa?
A. $255,000
B. $348,000
C. $273,000
D. $327,000
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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