White,Sands,and Luke has the following capital balances and profit and loss ratios;
$50,000 (30%),$100,000 (20%)and $200,000 (50%).If the partnership is to be liquidated and $150,000 becomes available for the partners immediately,who gets the money?

Question

Quizplus · Accepted Answer

Since the partnership currently has total capital of $350,000,the $150,000 that is available would indicate maximum potential losses of $200,000 that is hypothetically split among the partners. 11ea88ab_df4b_7176_bb89_9bbf3e404a54_TB4174_00

White,Sands,and Luke Has the Following Capital Balances and Profit and Loss