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Assume that Diandra's withdrawal was not unlawful and that the following are the valuations for winding up: Liabilities to creditors are $40,000; Outstanding receivables are
Assume that Diandra's withdrawal was not unlawful and that the following are the valuations for winding up:
Liabilities to creditors are $40,000;
Outstanding receivables are $30,000; with $10,000 of this received by the time winding up is completed
Equipment, furniture, fixtures, and stock are $300,000
Losses are $20,000
Wendy's capital contribution totaled $100,000, and also loaned the partnership $10,000 interest-free to buy a replacement freezer.
If calculated Diandra's check correctly, how much was the check Diandra received?
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