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The Balance Sheet Given Below Is Presented for the Partnership

Question 1

Multiple Choice

The balance sheet given below is presented for the partnership of Janet, Anton, and Millet: The balance sheet given below is presented for the partnership of Janet, Anton, and Millet:   The partners share profits and losses in the ratio of 5:3:2, respectively. The partners agreed to dissolve the partnership after selling the other assets for $50,000. On dissolution of the partnership, Janet should receive: A)  $0. B)  $80,000. C)  $10,000. D)  $30,000. The partners share profits and losses in the ratio of 5:3:2, respectively. The partners agreed to dissolve the partnership after selling the other assets for $50,000. On dissolution of the partnership, Janet should receive:


A) $0.
B) $80,000.
C) $10,000.
D) $30,000.

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