Question
5) The partnership of Peter, Paul, and Mary share p partners voted to dissolve the partnership when is a losses in the ratio of
5) The partnership of Peter, Paul, and Mary share p partners voted to dissolve the partnership when is a losses in the ratio of 4:4:2,pectively. The liabilities, and capital were as follow Cash $ 250,000 Other assets 1,000,000 $1.250,000 Liabilities and Capital Liabilities Peter, Capital Paul Capital $ 200.000 300.000 Mary, Capital 350,000 400 000 $1.250.000 The partnership will be liquidated over a penged period of time. As cash is wailable, it will be distributed to the partners. The first ceh distribution to peers was made after the first sale of noncash sets. The first sale of noncash assets having a book value of $600,000 ad $475,000. How much cash should be distributed to each partner after this sale? a) $90,000, $140,000, Mary, $295,000 b) Peter, $210,000 ) Peter, $290,000 Peter, $150,000 $290,000; Mary, $145,000 $210,000, May 5:05.000 $175,000, Mary, $200,0
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