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Justin, Arthur, and Molly formed a partnership with income-sharing ratios of 50%, 30%, and 20%, respectively. Cash of $300,000 was available after the partnership's assets
Justin, Arthur, and Molly formed a partnership with income-sharing ratios of 50%, 30%, and 20%, respectively. Cash of $300,000 was available after the partnership's assets were liquidated. Prior to the final distribution of cash, Justin's capital balance was $180,000, Arthur's capital balance was $150,000, and Molly had a capital deficiency of $30,000. Molly is unable to pay the amount owed to the partnership. In the final distribution of cash, how much should Justin receive?
a.
$ 165,000
b.
$ 161,250
c.
$ 150,000
d.
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