The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances: Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.What amount of cash was available for safe payments, based on the above information?
A) $30,000.
B) $85,000.
C) $25,000.
D) $35,000.
E) $40,000.

Question

The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances:  Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.What amount of cash was available for safe payments, based on the above information?
A) $30,000. 
B) $85,000. 
C) $25,000. 
D) $35,000. 
E) $40,000.

Quizplus · Accepted Answer

The Answer is C

The Henry, Isaac, and Jacobs Partnership Was About to Enter