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Since the partnership currently has total capital of exist260,000, the exist10,000 that is available would indicate maximum potential losses of exist250,000. Same cash to distribute,
Since the partnership currently has total capital of exist260,000, the exist10,000 that is available would indicate maximum potential losses of exist250,000. Same cash to distribute, different allocations: The following balance sheet is for a local partnership in which the partners have become very unhappy with each other. To avoid more conflict, the partners have decided to cease operations and sell all assets. Using this information, answer the following questions. Each question should be viewed as an independent situation related to the partnerships liquidation. a. The exist 10,000 cash that exceeds the partnership liabilities is to be disbursed immediately. If profits and losses are allocated to Adams, Baker, Carvil, and Dobbs on a 2: 3: 3: 2 basis respectively, how will the exist10,000 be divided
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