Question
Grayson and Harrison are in business as GH Partnership, which is undergoing an installment liquidation. Grayson and Harrison share income in a 3:2 ratio, and
Grayson and Harrison are in business as GH Partnership, which is undergoing an installment liquidation. Grayson and Harrison share income in a 3:2 ratio, and have current capital balances of $120,000 and $130,000, respectively. $80,000 in cash is available for distribution. Assuming all liabilities have been paid, what is the amount of the safe payment to Grayson?
| A. | $-0- | |
| B. | $20,000 | |
| C. | $18,000 | |
| D. | $48,000 |
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Internal Control And Internal Audit In Non Profit Organizations A Practical Model
Authors: Kamal Bayramov
1st Edition
6203464015, 978-6203464016
