A partnership is liquidating.The partners share profits and losses equally.After liquidating the assets and paying the liabilities,the partners' capital accounts are as follows: Assume Fleet contributes the capital deficiency.How much cash is available to distribute to the partners?

Question

A partnership is liquidating.The partners share profits and losses equally.After liquidating the assets and paying the liabilities,the partners' capital accounts are as follows:  Assume Fleet contributes the capital deficiency.How much cash is available to distribute to the partners?

Quizplus · Accepted Answer

$41,000 + $27,000 = $68,000

A Partnership Is Liquidating