The partners of Jensen, Smith & Hart LLP shared net income and losses in the ratio of 5:3:2, respectively. The partners decided to liquidate the partnership when its assets consisted of cash, $40,000, and other assets, $210,000; the liabilities and partners' capital were as follows: If other assets with a carrying amount of $120,000 realized $90,000, the amount of cash that each partner may receive at that time is:

Question

The partners of Jensen, Smith & Hart LLP shared net income and losses in the ratio of 5:3:2, respectively. The partners decided to liquidate the partnership when its assets consisted of cash, $40,000, and other assets, $210,000; the liabilities and partners' capital were as follows:

If other assets with a carrying amount of $120,000 realized $90,000, the amount of cash that each partner may receive at that time is:

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The Answer of The partners of Jensen, Smith & Hart LLP shared net income and losses in the ratio of 5:3:2, respectively. The partners decided to liquidate the partnership when its assets consisted of cash, $40,000, and other assets, $210,000; the liabilities and partners' capital were as follows:  If other assets with a carrying amount of $120,000 realized $90,000, the amount of cash that each partner may receive at that time is:

The Partners of Jensen, Smith & Hart LLP Shared Net