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Problem 15-12 A partnership has the following account balances: Cash, $73,000; Other Assets, $555,000; Liabilities, $275,000; Nixon (50% of profits and losses), $170,000; Cleveland (30%),
Problem 15-12
| A partnership has the following account balances: Cash, $73,000; Other Assets, $555,000; Liabilities, $275,000; Nixon (50% of profits and losses), $170,000; Cleveland (30%), $110,000; Pierce (20%), $73,000. The company liquidates, and $10,000 becomes available to the partners. Who gets the $10,000? |
Nixon Cleveland Pierce
Safe Payments ________________________
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