Dunn and Brad Partnership Is Considered Insolvent and Has Liabilities

question 13

Multiple Choice

Dunn and Brad partnership is considered insolvent and has liabilities of $10,000.Here is a snapshot of the general ledger:
$$\begin{array} { | l | l | l | } \hline & \text { Dunn } & \text { Brad } \\\hline \text { Personal Assets } & \$ 40,000 & \$ 16,000 \\\hline \text { Personal Liabilities } & \$ 16,000 & \$ 20,000 \\\hline \text { Partners Capital } & \$ 20,000 & ( \$ 10,000 ) \\\hline\end{array}$$
What is Dunn's required contribution if the partnership creditors move against him first?

• A)$16,000
• B)$4,000
• C)$10,000
• D)$8,000

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