The Final-Day partnership has been liquidated. The profit and loss allocation and the final capital balances are as follows (deficit balances are in parentheses): Abbie (20% of gains and losses) Rachel (30%) Betsy (1096) Ellen (40%) To reduce its deficit balance, Rachel contributes to the partnership $100,000. How the money should be allocated among the partners? (140,000) (160,000) 100,000 200,000 $25,000 to each of the four partners Abbie 0; Rachel 0; Betsy 50,000; Ellen 50,000; Abbie 0; Rachel 0; Betsy 60,000; Ellen 40,000; Abbie 0; Rachel 0; Betsy 0; Ellen 100,000; None of the answers is correct On anuary 1 Abba Company acquired 60% of Ben Company or $700 000 n cash. On the date of the acq st on, the book valu one assets of Ben compan were as o o s: Cash Inventory Building, Net 500,000 Liabilities $100,000 200,000 (150,000) Net Assets $650.000 During the year, Ben paid total dividends of $80,000, and Abba paid total dividends of $120,000. How these dividends should be reported on the Consolidated Statement of Cash-Flow? As $200,000 cash outflow from financing activities As $120,000 cash outflow from financing activities As $184,000 cash outflow from financing activities As $152,000 cash outflow from financing activities These dividends are intra-companies dividends and should not be reported on the Consolidated Statement of Cash-Flow The Big Sypress partnership had the following balance sheet just before its final liquidation Cash Inventory $50,000 100,000 Liabilities Phyllis, Capital (30% of profits and losses) Sara, capital (30%) Robin, Capital (40%) $140,000 110,000 Other Assets 75,000 75,000 400,000 250,000 Total $400000 Total The inventory was sold for $60,000, the "Other Assets" were sold for $105,000 and liquidation expenses are estimated to be $15,000. Which partner(s) would have had to contribute assets to the partnership to cover a deficit in her capital account? None of the partners Phyllis Sara Robin Sara and Robin The Miami-Divers partnership had the following balance sheet just before its final liquidation: Cash Inventory $50,000 100,000 Liabilitie:s Phyllis, Capital (50% of $70,000 150,000 rofits and losses) Sara, Capital (20%) Robin, capital (30%) Other Assets 250,000 90,000 90,000 $400,000 Total $400,000 Total The inventory was sold for $60,000 and liquidation expenses are estimated to be $15,000. What amount of cash is available for safe payments? No safe payment can be made until all liabilities are fully paid $25,000 $275,000 330,000 None of the answers is correct