Antonio and Barbara are partners who share income in the ratio of 1:2 and have capital balances of $40,000 and $70,000 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 $80,000 . What amount of loss on realization should be allocated to Barbara?
a. $80,000
b. $10,000
c. $20,000
d. $30,000
c
You might also like to view...
Anne has excelled as a consultant for a large financial institution. She loves building mutually beneficial relationships and is extremely well liked by her clients. Anne likely has a
A. low need for affiliation. B. low need for power. C. low need for achievement. D. high need for affiliation. E. high need for achievement.
What are the relative advantages and disadvantages of longitudinal versus cross-sectional designs?
What will be an ideal response?
Leadership takes place in which of the following situations?
a. Isolated events b. Process involving many parts c. Isolated events and a process d. Isolated events, a process, and a cycle
To outline your experiences, ________
A) make a list of only those work experiences that directly relate to your current job search B) list all your work experiences as bullet items beginning with an action verb C) create ten to twelve bullet points for each job you've had D) mention details only about your current job and avoid including details of your previous jobs E) identify the skills you used at your jobs, not the results you accomplished