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Refers to the following information to answer questions 8 and 9 : A local partnership...

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Accounting

Refers to the following information to answer questions 8 and 9 : A local partnership was in the process of liquidating and reported the following Capital account balances:
Justice Capital (40% Share for all profit and loss) $23,000
Zobart Capital (35%)
22,000
Douglass Capital (25%)
(14,000)
Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.
8. How much of the $31,000 in the cash account should Justice receive?
a. $15,467.
b. $15,533.
c. $17,333.
d. $16,533.
e. $15,867.
9. How much of this money should Zobart receive?
a. $15,467.
b. $14,467.
c. $17,333.
d. $15,633.
e. $15,867.
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