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Dione is a general partner who owns 50% interest in Love First Enterprises. Sammy is a limited partner who owns $50%. The partnership has $50,000
Dione is a general partner who owns 50% interest in Love First Enterprises. Sammy is a limited partner who owns $50%. The partnership has $50,000 in recourse liabilities and $20,000 in non recourse liabilities. What is Dione's total share of liabilities?
a) $35,000
b) $45,000
c) $60,000
d) $70,000
I had a study question that suggests that the answer $60,000 would not be correct. I got the answer wrong when I used the same concept to get the answer $60,000.
Can someone please answer and explain the answer.
Thank you.
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