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A local partnership is liquidating and has only two assets ( cash of $ 1 0 , 0 0 0 and land with a cost
A local partnership is liquidating and has only two assets cash of $ and land with a cost of $ All partnership liabilities have been paid. All partners are personally insolvent. The partners have capital balances and share profits and losses as follows. a If the land is sold for $ how much cash does each partner receive in a final settlement? b If the land is sold for $ how much cash does each partner receive in a final settlement? Do not round intermediate calculations. Round your final answers to the nearest dollar amounts. c If the land is sold for $ how much cash does each partner receive in a final settlement? Do not round intermediate calculations. Round your final answers to the nearest dollar amounts.
A local partnership is liquidating and has only two assets cash of $ and land with a cost of $ All partnership liabilities
have been paid. All partners are personally insolvent. The partners have capital balances and share profits and losses as follows.
a If the land is sold for $ how much cash does each partner receive in a final settlement?
b If the land is sold for $ how much cash does each partner receive in a final settlement? Do not round intermediate
calculations. Round your final answers to the nearest dollar amounts.
c If the land is sold for $ how much cash does each partner receive in a final settlement? Do not round intermediate
calculations. Round your final answers to the nearest dollar amounts.
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