The Henry, Isaac, and Jacobs Partnership Was About to Enter

question 58

Multiple Choice

The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances: Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.Before liquidating any assets, the partners determined the amount of cash available for safe payments. How should the amount of safe cash payments be distributed?

• A) In a ratio of 2:4:4 among all the partners.
• B) $18,333 to Henry and $16,667 to Jacobs.
• C) In a ratio of 1:2 between Henry and Jacobs.
• D) $15,000 to Henry and $10,000 to Jacobs.
• E) $21,667 to Henry and $3,333 to Jacobs.

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A profound feeling of remorse or responsibility for having done something wrong or harmful, often beyond what would be considered reasonable.

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