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Turner, Roth, and Lowe are partners who share income and loss in a 1:4:5 ratio (in percents: Tumer, 10%; Roth, 40%; and Lowe, 50%). The

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Turner, Roth, and Lowe are partners who share income and loss in a 1:4:5 ratio (in percents: Tumer, 10%; Roth, 40%; and Lowe, 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $142.800; total abilities. $92,000; Turner, Capital, $3,900, Roth, Capital, $14.700; and Lowe, Capital, $32,200. The liquidation resulted in a loss of $85,800 Assume that the Tumer, Roth, and Lowo partnership is a limited partnership. Turner and Roth are general partners Lowe is a limited partner, meaning any remaining deficiency in Lowe's capital account is covered by Turner and Roth Determine how much, if any, each partner should contribute to the partnership to cover any remaining capital deficiency. (Do not round Intermediate calculation Losses and deficits amounts to be deducted should be entered with a minus sign) Capital balances after gara os Turner $ 3.900 Roth $ 14,700 Initial capital balances Allocation of gains (losses) Capital balances after gains (losses) Lowe Total $32.200 $ 50.800 0 $ 50.800 Allocation of Lowe's Deficit to Turner and Roth Turner Roth Lowo Total Allocation of Lowe's defit to Turner and Roth Capital balances after deficit allocation Amount to be ropaid to partnership $ 0 $ 0 0 $ $ 0

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