SB The following condensed balance sheet is... The following condensed balance sheet is...
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Accounting
SB The following condensed balance sheet is...
The following condensed balance sheet is presented for the partnership of D, E, and F who share profits and losses in the ratio of 5:3:2, respectively:
Cash
$
100,000
Other Assets
480,000
$
580,000
Liabilities
$
160,000
D, Capital
200,000
E, Capital
130,000
F, Capital
90,000
Total
$
580,000
The partners agreed to liquidate the partnership after selling the other assets.
TB MC Qu. 16-12 Refer to the above information. If the other...
Refer to the above information. If the other assets are sold for $280,000, how much should F receive upon liquidation?
Multiple Choice
$50,000
Correct
$44,000
$76,000
$90,000
Please explain how to get 50,000
Answer & Explanation
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