Required information Skip to question The Abrams, Bartle, and Creighton partnership began the process of liquidation with the following balance sheet: Cash $ 16,000 Liabilities $ 150,000 Noncash assets 434,000 Abrams, capital 80,000 Bartle, capital 90,000 Creighton, capital 130,000 Total $ 450,000 Total $ 450,000 Abrams, Bartle, and Creighton share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $12,000. Assuming that the noncash assets were sold for $134,000, which partner(s) would have been required to contribute assets to the partnership to cover a deficit in his or her capital account, prior to considering the liquidation expenses incurred?
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Business, 22.06.2019 09:00
Brian has been working for a few years now and has saved a substantial amount of money. he now wants to invest 50 percent of his savings in a bank account where it will be locked for three years and gain interest. which type of bank account should brian open? a. savings account b. money market account c. checking account d. certificate of deposit
Answers: 1
Business, 22.06.2019 09:30
Any point on a country's production possibilities frontier represents a combination of two goods that an economy:
Answers: 3
Business, 22.06.2019 21:40
Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.
Answers: 2
Required information Skip to question The Abrams, Bartle, and Creighton partnership began the proces...
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