Colleen,Joanna,and Ellen form Capital City Company,a partnership.Colleen contributes expertise;Joanna,$15,000;and Ellen,$20,000.After a year,Joanna adds $12,000 as a loan.Ten years later,Capital owes $44,000 to creditors,total assets are $112,000,and they decide to dissolve the business.How will these assets be distributed and what will each receive?

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The Answer of Colleen,Joanna,and Ellen form Capital City Company,a partnership.Colleen contributes expertise;Joanna,$15,000;and Ellen,$20,000.After a year,Joanna adds $12,000 as a loan.Ten years later,Capital owes $44,000 to creditors,total assets are $112,000,and they decide to dissolve the business.How will these assets be distributed and what will each receive?

Colleen,Joanna,and Ellen Form Capital City Company,a Partnership