A partnership has the following capital balances: A (20% of profits and losses) = 5100,000: B (30%

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A partnership has the following capital balances: A (20% of profits and losses) = 5100,000: B (30% of profits and losses) = 5120,000: C (50% of profits and losses) = 5180,000 If the partnership is to be liquidated and 530,000 becomes immediately available, who gets that money?
a 56,000 to A, 59,000 to B, 515,000 to C
b 522,000 to A, 53,000 to B, 55,000 to C
c 522,000 to A, 58,000 to B, -0- to C
d 524,000 to A, 56,000 to B, -0- to C
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Fundamentals of Advanced Accounting

ISBN: 978-1259722639

7th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

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