Assume Fleet does not contribute the capital deficiency. How much cash is available to distribute to the partners?
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:
A) $43,000
B) $49,000
C) $63,000
D) $77,000
B) $49,000
$43,000 + $20,000 - $14,000 = $49,000
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