Detroit and Chicago are partners in the DC Partnership. At the beginning of the year, Detroit has a capital balance of $70,000 and Chicago has a capital balance of $80,000. The partnership agreement includes the following provisions regarding the distribution of net income: 10% interest on beginning capital balances, salary allowances of $27,000 to Detroit and $18,000 to Chicago, and the remainder will be divided equally. The partnership has net income of $100,000 for the year just ended. The amount of income distributed to Detroit's capital account is: A. $20,000 $34,000. C. $50,000 D. $54,000. After discontinuing business operations and prior to the liquidation, the accounting records for the partnership of Denver, Boise and Butte indicated the following: $7,500 cash, $105,000 of non cash assets, $27,500 in liabilities, Denver had $45,000 in his capital account, Boise had $15,000 in capital, and Butte had $25,000 in capital. Profits and losses are shared in the following manner; 50% to Denver, 30% to Boise, and 20% to Butte. The noncash assets were sold for $120,000, the liabilities were paid, and the remaining cash was distributed to the partners. The amount of cash received by Butte upon liquidation of the partnership is: A. $28,000. $20,000 $45,000. $48,000