Soledad and Winston are partners who share income in the ratio of 1:3 and have capital balances of $100,000 and $140,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $130,000 . What amount of loss on realization should be allocated to Soledad?
a. $60,000
b. $27,500
c. $92,500
d. $32,500
b
You might also like to view...
In the practice of ________, behaviorally targeted ads from one website follow an online shopper when he or she moves on to other websites
A) flanking B) remarketing C) cyber stalking D) stealth advertising E) unethical marketing
In a report designed to organize a new task force, the close should
A) identify the report's authors. B) include an analysis of the data you've presented. C) list the action that you would like readers to take. D) discuss why the report was written. E) describe how tasks will be broken down.
If firms expect to receive cash more than one year after the time of recognizing revenue, they measure revenues at the present value of the amount of cash they expect to receive
Indicate whether the statement is true or false
Danny, a manager at Westport Inc, is in charge of creating and presenting a report of a plan for building a new office in a city. He plans to make the presentation interesting by gaining the attention of the entire audience effectively. Which of the following is an attention-getting technique he can use?
A) ?Avoiding shocking statements B) ?Using quotations by experts C) ?Using inappropriate jokes D) ?Avoiding personal references