A local partnership has assets of cash of $13,000 and land worth $70,000.All liabilities have been paid and the partners are all insolvent.The partners capital accounts are as follows Roberts,$50,000,Ferry,$30,000 and Mones,$3,000.The partners share profits and losses 5:3:2.If the land is sold for $45,000,how much cash will Roberts receive in the final settlement?

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The Answer of A local partnership has assets of cash of $13,000 and land worth $70,000.All liabilities have been paid and the partners are all insolvent.The partners capital accounts are as follows Roberts,$50,000,Ferry,$30,000 and Mones,$3,000.The partners share profits and losses 5:3:2.If the land is sold for $45,000,how much cash will Roberts receive in the final settlement?

A Local Partnership Has Assets of Cash of $13,000 and Land