Your partnership is dissolving and all creditors have been paid and at the end of the process, the partnership account has $40,000 and we have the following info: Your capital account $30,000 George's capital account $20,000 Ringo's capital account ($10,000) How is the cash distributed? a. You would get $24,000 and a claim against Ringo for $6,000 b. You would get $20,000 and George would get $20,000 and both of you would sue Ringo c. You would get $30,000 and George would get $10,000 and a claim for $10,000 from Ringo d. The partnership would sue Ringo, collect the $10,000 and then you would get $30,000 and George would get $20,000 You are getting ready to become a partner in an accounting partnership. Before you sign up, they tell you that they owe the bank $500,000 on a building loan and are paying $100,000 on a malpractice claim of a partner not there anymore. The partnership tells you that they will be paying these out of future profits and thus out of your share. Can they do this? a. no, they have to make a special adjustment to pay you back your share b. they will have to increase your partnership share to compensate you for this debt c. these aren't your debts so you should not have to pay for them d. Yes of course, you have been put on notice of the debt