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Required information The following condensed balance sheet is presented for the partnership of H, I, and J who share profits and losses in the ratio
Required information The following condensed balance sheet is presented for the partnership of H, I, and J who share profits and losses in the ratio of 4:3:3, respectively: Cash Other Assets Total Liabilities H, Capital I, Capital 0, Capital Total s 50,008 300,000 $358,00 80,00e 150,000 70,000 50,000 $350,00e The partners agree to liquidate the partnership after selling the other assets. Refer to the above information. If the other assets are sold for $140,000 and all partners are personally insolvent, how much should I receive upon liquidation? Multiple Choice $2,000 $0 $22,000
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