Question
Kindly answer the following: (1) A, B and C are partners in a partnership which was dissolved by the withdrawal of A. B who was
Kindly answer the following:
(1) A, B and C are partners in a partnership which was dissolved by the withdrawal of A. B who was notified by C of A's withdrawal, entered into new transaction with V in the name of the partnership.
(a) Is the partnership liable to V?
(b) Are A and C liable to B for their share of the liability?
(2) A, B and C's partnership was dissolved. Assume the following information:
Partnership assets - Php320,000;
Advances by A to partnership - Php20,000
Capital contribution of each partner - Php30,000
Liability of partnership to Z - Php150,000
Compute the share of each partner in the profits.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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