Table 12-15
Martha, Queen and Stuart Are in the Process

question 104

Essay

Table 12-15
Martha, Queen and Stuart are in the process of liquidating their partnership. They share profits and losses in a 2:3:1 ratio. Following is the current balance sheet for the partnership:
$\begin{array}{llll}\text { Cash } & \$ 90,000 & \text { Liabilities } & \$ 80,000 \\\text { Other assets } & 200,000 & \text { Martha, capital } & 60,000\\&&\text { Queen, capital }&110,000\\&&\text { Stuart, capital }&40,000\end{array}$ Total assets $~~~~~~~~~~ \underline{\$290.000} ~~~~~~~~~~~~$ Total liabilities and canital $~~~~~~~~~~~~~ \underline{\$290.000}$
-Refer to Table 12-15 If the other assets are sold for $191,000 calculate the amount that will be received by each of the partners upon the liquidation of the partnership.

Recognize the significance of personal responsibility in the process of therapy and self-actualization.

Understand Carl Rogers's contributions and criticisms within psychology.

Recognize the principles and concepts of client-centered therapy.

Analyze the implications of the self-concept in Rogers's theory.

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Definitions:

360-Day Year

A financial convention that simplifies the interest calculation by assuming a year has 360 days.

Maturity Date

The specified date on which the final payment of a loan or financial instrument must be paid, at which point the principal (and all remaining interest) is due to be paid.

Leap Years

Years with 366 days, occurring every four years, to keep the calendar year synchronized with the astronomical year.

Surety Financing Company

A surety financing company provides financial guarantees for obligations made by the principal, ensuring contract completion in the event of default.