Turner, roth, and lowe are partners who share income and loss in a 1: 4: 5 ratio. after lengthy disagreements among the partners and several unprofitable periods, the partners decide to liquidate the partnership. immediately before liquidation, the partnership balance sheet shows total assets, $126,000; total liabilities, $78,000; turner, capital, $2,500; roth, capital, $14,000; and lowe, capital, $31,500. the cash proceeds from selling the assets were sufficient to repay all but $28,000 to the creditors. exercise 12-11 liquidation of partnership lo p5 required: a. calculate the loss from selling the assets. b. allocate the loss from part a to the partners. c. determine how much, if any, each partner should contribute to the partnership to cover any remaining capital deficiency

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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