n%20Comprensivo-%20Advanced%20Accounting.pdf 35 - 70% + | the same amount can be made to partners wur capinat nterests. 58) Which of the following procedures is acceptable when accounting for a deficit balance in a partner's capital account during partnership liquidation, if the partner with a negative capital balance is personally insolvent? A) The partner with a negative capital balance must contribute personal assets to the partnership that are sufficient to bring the apital account to zero. B) The negative capital balance may be absorbed by those partners having a positive capital balance according to the residual profit and loss sharing ratios that apply to all the partners. C) The negative capital balance may be absorbed by those partners having a positive capital balance according to the residual profit and loss sharing ratios that apply to those partners having positive balances. D) The partner with a negative capital balance must contribute personal assets to the partnership that are sufficient to bring the capital account to the same level of the other partners' capital accounts. 59) Gains and losses incurred at liquidation are distributed to the partners using the residual profit and loss sharing ratios because A) using ownership percentages would permit solvent partners to not share profits with insolvent partners. B) the residual profit and loss ratios represent the ownership percentages. C) these amounts represent profits and losses from prior periods that would have been shared using the residual profit and loss ratios. D) using the established profit and loss sharing ratios is not permitted.