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The partners in ABC partnership have decided to liquidate the partnership. Its balance sheet is below. Cash $7,000 Liabilities $4,200 Inventory 3,500 A, capital 4,900
The partners in ABC partnership have decided to liquidate the partnership. Its balance sheet is below. Cash $7,000 Liabilities $4,200 Inventory 3,500 A, capital 4,900 Equipment 17,500 B, capital 8,400 C, capital 10,500 TOTAL $28,000 TOTAL $28,000 The partners share income in a 2:3:5 ratio. Now assume none of the inventory or equipment is sold, but the partners want to distribute $1,750 in cash to the partners. How much cash is distributed to partner B
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