A local partnership was in the process of liquidating and reported the following Capital account balances: 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.How much of this money should Zobart receive?
A) $15,467.
B) $14,467.
C) $17,333.
D) $15,633.
E) $15,867.

Question

A local partnership was in the process of liquidating and reported the following Capital account balances:  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.How much of this money should Zobart receive?
A) $15,467. 
B) $14,467. 
C) $17,333. 
D) $15,633. 
E) $15,867.

Quizplus · Accepted Answer

The Answer of A local partnership was in the process of liquidating and reported the following Capital account balances:  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.How much of this money should Zobart receive?
A) $15,467. 
B) $14,467. 
C) $17,333. 
D) $15,633. 
E) $15,867.

A Local Partnership Was in the Process of Liquidating and Reported