Dancey, Reese, Newman, and Jahn Were Partners Who Shared Profits

question 73

Multiple Choice

Dancey, Reese, Newman, and Jahn were partners who shared profits and losses on a 4:2:2:2 basis, respectively. They were beginning to liquidate their business. At the start of the process, capital balances were as follows: $$\begin{array} { l r } \text { Dancey, capital } & \$ 72,000 \\\text { Reese, capital } & 32,000 \\\text { Newman, capital } & 52,000 \\\text { Jahn, capital } & 24,000\end{array}$$ Which one of the following statements is true for a predistribution plan?

• A)The first available $16,000 would go to Newman.
• B)The first available $20,000 would go to Dancey.
• C)The first available $8,000 would go to Jahn.
• D)The first available $8,000 would go to Newman.
• E)The first available $4,000 would go to Jahn.

Understand the options for resizing and shaping images within PowerPoint.

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