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Business, 20.12.2019 19:31 tylorroundy
Assume that a partnership had assets with a book value of $240,000 and a market value of $195,000, outside liabilities of $70,000, loans payable to partner able of $20,000, and capital balances for partners able, baker, and chapman of $70,000, $30,000, and $50,000. how much would able receive upon liquidation of the partnership assuming profits and losses are allocated equally?
a. $70,000
b. $90,000
c. $75,000
d. $55,000
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Answers: 2
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Assume that a partnership had assets with a book value of $240,000 and a market value of $195,000, o...
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