Question
The capital per unit of income sharing for the partners of Rami, Sami & Tami LLP as authorized on December 20, 2020, were: $25,000, $30,000
The capital per unit of income sharing for the partners of Rami, Sami & Tami LLP as authorized on December 20, 2020, were: $25,000, $30,000 & $8,000 respectivily and their income-sharing ratio: 3:2:5 respectively. the capital balance for Rami before liquidation is:
Select one:
a.
$50,000.
b.
$25,000.
c.
$125,000.
d.
$75,000.
On November 10, 2020, Maher, Saher, and Taher, partners of Maher, Saher, & Taher LLP, shared net income and losses in a 4 : 2 : 1 ratio respectively. In liquidation of the LLP, the Capital per unit of income sharing ratio were: $10,000, $12,000, $15,000 respectively, means that:
a.
$15,000 to be paid to Taher before any payment made to Maher and Saher.
b.
$5,000 to be paid to Taher before any payment made to Maher and Saher.
c.
$3,000 to be paid to Taher before any payment made to Maher and Saher.
d.
$5,000 to be paid to Taher before any payment made to Maher and Saher.
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