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Question 30 (5 points) Jake, Sacha, and Brianne own a tour company called Adventure Sports. The partners share profit and losses in a 2:3:5 ratio.
Question 30 (5 points) Jake, Sacha, and Brianne own a tour company called Adventure Sports. The partners share profit and losses in a 2:3:5 ratio. After lengthy disagreements among the partners and several unprofitable periods, the friends decided to liquidate the partnership. Before the liquidation, the partnership balance sheet showed total assets, $264,000; total liabilities, $220,000; Jake, Capital, $10,000; Sacha, Capital, $12,000; and Brianne, Capital, $22,000. The cash proceeds from selling the assets were sufficient to repay all but $65,000 to the creditors. Jake and Sacha are general partners and Brianne is a limited partner. unh of the remaining $65.000 liability should be paid by each partner
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