As of January 1, 2011, the partnership of Canton, Yulls, and Garr had the following account balances and percentages for the sharing of profits and losses: The partnership incurred losses in recent years and decided to liquidate. The liquidation expenses were expected to be $10,000.
What would be the maximum amount Garr might have to contribute to the partnership to eliminate a deficit balance in his account?

Question

As of January 1, 2011, the partnership of Canton, Yulls, and Garr had the following account balances and percentages for the sharing of profits and losses:  The partnership incurred losses in recent years and decided to liquidate. The liquidation expenses were expected to be $10,000.
What would be the maximum amount Garr might have to contribute to the partnership to eliminate a deficit balance in his account?

Quizplus · Accepted Answer

The Answer of As of January 1, 2011, the partnership of Canton, Yulls, and Garr had the following account balances and percentages for the sharing of profits and losses:  The partnership incurred losses in recent years and decided to liquidate. The liquidation expenses were expected to be $10,000.
What would be the maximum amount Garr might have to contribute to the partnership to eliminate a deficit balance in his account?

As of January 1, 2011, the Partnership of Canton, Yulls