Question
PLEASE SOLVE THIS THE FOLLOWING BALANCE SHEET IS FOR A LOCAL PARTNERSHIP ON WHICH THE PARTNERS HAVE BECOME VERY UNHAPPY WITH EACH OTHER and decided
PLEASE SOLVE THIS
THE FOLLOWING BALANCE SHEET IS FOR A LOCAL PARTNERSHIP ON WHICH THE PARTNERS HAVE BECOME VERY UNHAPPY WITH EACH OTHER and decided to cease operations and sell the assets.
CASH.42,000LIABILITIES32,000
LAND.140,000ADAMS, CAPITAL.85,000
BULDING.130,000BAKER, CAPITAL.36,000
CARVIL, CAPITAL.64,000
Dobbs, Capital95,000
1-Assume that profit and losses are allocated to Adams, Baker, Carvil, and Dobbs on a 1:3:4:2 basis, respectively.
How much money must the firm receive from selling the land and the building to ensure that Carvil receives a portion?( do not round intermediate calculations)
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