Need Help With 22 and 23.. Thank you!

Ih the other partners D were overvalued i GI the partnership's net assets s upon his admission to the partnership hirs s investment amount should nmediately prior to Howard's admission vwas less than their fair value prior to Howard's acmission than 22. The following condensed balance sheet is for the partnership o match the highest of the current partners capita accounts profits and losses in the ratio of 4:4:2. respectively Penny. Tyson and Pound who share Cash Other Assets 160,o00 $30,000 Liabilities Penny, capital Tyson, capital Pound, capital $75.0oo 5o,000 25,000 For how much money ount , ac y must the other assets be sold so that each partner receives at least some an t A) $45,o00 B) $35,000 C) $60,o00 $1 D) $50,000 +1 23. Which one of the following is a reason for the popularity of partnerships as a legal fo A Partnerships avoid the double taxation of income that is found in corporations. B) Partnerships require written Articles of Partnership for businesses? Partners in partnerships are not subject to unlimited liability Partnerships avoid mutual agency. uses a at a loss. If allocation of losses ca 24. During the liquidation process assets are often sold partner's capital account to fall below zero then A0 B) the part C) the partner is no longer obligated to partnership creditors. the partner has an obligation to contribute assets to the partnership ner receives no further allocation of liquidation losses and gains. the partner receives further allocations of liquidation losses, but not gains