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problem 3. .. A partnership has the following balance sheet prior to liquidation (partners' profit and loss ratios are in parentheses): Cash $ 33,000 Liabilities
problem 3. .. A partnership has the following balance sheet prior to liquidation (partners' profit and loss ratios are in parentheses): Cash $ 33,000 Liabilities $50,000 Other assets 100,000 Playa, capital (40%) .24,000 Bahia, capital (30%) 29,000 Arco, capital (30%)... 30,000 During liquidation, other assets are sold for $80,000, liabilities are paid in full, and $15,000 in liquidation expenses are paid. What amount of cash does each partner receive as a result of this liquidation? Choose the correct. a. Playa, $6,000; Bahia, $4,500; Arco, $4,500. b. Playa, $10,000; Bahia, $18,500; Arco, $19,500. c. Playa, $16,000; Bahia, $23,000; Arco, $24,000. d. Playa, $19,200; Bahia, $14,400; Arco, $14,400
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