Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bench, Federico, Dana, Toby, and Dior formed Techy Bees Business Consultancy LTD. They all contributed 50,000.00 to the partnership, except for Bench who is an
Bench, Federico, Dana, Toby, and Dior formed Techy Bees Business Consultancy LTD. They all contributed 50,000.00 to the partnership, except for Bench who is an industrial partner. The partners agreed to divide the profit equally among themselves.
Techy Bees Business Consultancy LTD is indebted to Federico, a limited partner, amounting to 100,000.00. On December 31, 2021, the partners decided to dissolve and liquidate the partnership which has a gross capital amounting to P500,000.00.
QUESTION:
1) How much can Dior get from the partnership after liquidation?
Techy Bees Business Consultancy LTD is indebted to Federico, a limited partner, amounting to 100,000.00. On December 31, 2021, the partners decided to dissolve and liquidate the partnership which has a gross capital amounting to P500,000.00.
QUESTION:
1) How much can Dior get from the partnership after liquidation?
Step by Step Solution
★★★★★
3.45 Rating (152 Votes )
There are 3 Steps involved in it
Step: 1
The process of shutting down a company or organization and liquidating all of its assets in order to ...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
