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

question 2

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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