A Local Partnership Was in the Process of Liquidating and Reported

question 25

Multiple Choice

A local partnership was in the process of liquidating and reported the following capital balances: $\begin{array}{ll}\text {Justice, capital (40\% share of all profits and losses) }&\$23,000 \\\text {Zobart, capital ( \( 35 \%) \) }&22,000 \\\text { Douglass, capital ( } 25 \%) &(14,000) \\\end{array}$
Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account. How much of this money should Zobart receive?

• A)$15,467.
• B)$14,467.
• C)$17,333.
• D)$15,633.
• E)$15,867.

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Social Work

A professional field focused on helping individuals, families, and communities to enhance well-being and address personal and social problems.

Social Welfare

Programs and support systems designed to help individuals and communities to meet their basic needs and improve their quality of life.

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