Question
please solve quickly and i will give you like On January 1, 20X7, partners Munther, Nabil, and Omar, who share profits and losses in the
please solve quickly and i will give you like
On January 1, 20X7, partners Munther, Nabil, and Omar, who share profits and losses in the ratio of 2:3:5, decided to liquidate their partnership. On this date, its condensed balance sheet was as follows:
ASSETS | LIABILITIES & EQUITY | ||
Cash | $ 50,000 | Liabilities | $ 60,000 |
Other Assets | 250,000 | Munther, Capital | 80,000 |
|
| Nabil, Capital | 90,000 |
|
| Omar, Capital | 70,000 |
Total | $ 300,000 | Total | $ 300,000 |
On January 15, 20X7, the first cash sale of other assets with a carrying amount of $150,000 realized $120,000. Safe installment payments to the partners were made on the same date. How much cash should be distributed to partner Nabil?
a.
$42,000
b.
$56,000
c.
$46,800
d.
$60,000
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