The partnership of Stan, Kenney, and Cartman has been dissolved and is in the process of...

 

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The partnership of Stan, Kenney, and Cartman has been dissolved and is in the process of liquidation. On July 1, 2017, just before the second cash distribution, the assets and equities of the partnership along with residual profit sharing ratios were as follows: Assume that the available cash is distributed immediately, except for a $10,000 contingency fund that is withheld pending complete liquidation of the partnership. How much cash should be paid to each of the partners? A. Stan, $35,000; Kenney, S21,000; Cartman, $14,000 D B. Stan, 55,000; Kenney, $3,000; Cartman, 54,000 C. Stan, S0; Kenney. $10,000; Cartman, 50 D. Stan, 50, Kenney 56.000 Cartman, 54.000 The partnership of Stan, Kenney, and Cartman has been dissolved and is in the process of liquidation. On July 1, 2017, just before the second cash distribution, the assets and equities of the partnership along with residual profit sharing ratios were as follows: Assume that the available cash is distributed immediately, except for a $10,000 contingency fund that is withheld pending complete liquidation of the partnership. How much cash should be paid to each of the partners? A. Stan, $35,000; Kenney, S21,000; Cartman, $14,000 D B. Stan, 55,000; Kenney, $3,000; Cartman, 54,000 C. Stan, S0; Kenney. $10,000; Cartman, 50 D. Stan, 50, Kenney 56.000 Cartman, 54.000

Answer rating: 100% (QA)

A Stan 35000 Kenny 21000 Cartman 14000 C... View the full answer