Partners A, B, and C Have Capital Account Balances of $60,000

question 23

Multiple Choice

Partners A, B, and C have capital account balances of $60,000 each. The profit and loss ratio is 5:2:3 respectively. In the process of liquidating the partnership, noncash assets with a carrying amount of $50,000 are sold for $20,000. The balance of Partner B's Capital account after the sale is

• A) $45,000.
• B) $51,000.
• C) $54,000.
• D) $66,000.

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Definitions:

Issue of Interest

The specific concern or topic that is being studied or analyzed in a research project.

Independent Variable

The variable in an experiment or study that is manipulated or changed to observe its effect on the dependent variable.

Dependent Variable

A dependent variable is the outcome or response that researchers are interested in explaining or predicting, typically manipulated or influenced by the independent variable.

Dependent Variable

A variable in an experiment that is expected to change in response to changes in the independent variable.