1- Partners Ana, Beth, and Cathy have capital account balances of $90,000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating the partnership, noncash assets with a book value of $75,000 are sold for $30,000. The balance of Ana's Capital account after the sale is

Select one:

a.$76,500.

b.$67,500.

c.$81,000.

d.$99,000.Partners Ana, Beth, and Cathy have capital account balances of $90,000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating the partnership, noncash assets with a book value of $75,000 are sold for $30,000. The balance of Ana's Capital account after the sale is

Select one:

a.$76,500.

b.$67,500.

c.$81,000.

d.$99,000.

2-Vision Corporation had a net decrease in cash of $10,000 for the current year. Net cash used in investing activities was $52,000 and net cash used in financing activities was $38,000. What amount of cash was provided (used) in operating activities?

Select one:

a.$100,000 provided.

b.$(80,000) used.

c.$(100,000) used.

d.$80,000 provided.

3- Jumana and Ali are partners who share income and losses in the ratio of 3:2, respectively. On December 31, 2019 their capital balances were: Jumana, $140,000 and Ali, $120,000. On that date, they agree to admit Maha as a partner with a one-third capital interest. If Maha invests $100,000 in the partnership, what is Jumana's capital balance after Maha's admittance?

Select one:

a.$128,000

b.$126,667

c.$120,000

d.$140,000

4- Mack, Harris, and Huss are dissolving their partnership. Their partnership agreement allocates income and losses equally among the partners. The current period's ending capital account balances are Mack, $15,000, Harris, $15,000, Huss, $(2,000). After all the assets are sold and liabilities are paid, but before any contributions to cover any deficiencies, there is $28,000 in cash to be distributed. Huss pays $2,000 to cover the deficiency in his account. The general journal entry to record the final distribution would be:

Select one:

a.Debit Cash $28,000; debit Huss, Capital $2,000; credit Mack, Capital $15,000; credit Harris, Capital $15,000.

b.Debit Mack, Capital $15,000; debit Harris, Capital $15,000; credit Cash $30,000.

c.Debit Mack, Capital $15,000; debit Harris, Capital $15,000; credit Huss, Capital $2,000; credit Cash $28,000.

d.Debit Mack, Capital $14,000; debit Harris, Capital $14,000; credit Cash $28,000.

5- A partner invests into a partnership a building with an original cost of $720,000 and accumulated depreciation of $320,000. This building has a $560,000 fair value. As a result of the investment, the partner's capital account will be credited for:

Select one:

a.$400,000.

b.$960,000.

c.$720,000.

d.$560,000.