What Is the Proper Disposition of a Partnership Loan That

question 26

Multiple Choice

What is the proper disposition of a partnership loan that was made from a partner who has a debit balance in the capital account?

• A)The loan is ignored in liquidation.
• B)The loan is offset against the debit balance in the capital account.
• C)The loan is charged off to the capital accounts of all the partners in their profit and loss sharing ratios.
• D)The loan is held for payment after all other capital accounts are covered.

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