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Assume a Partnership Has Assets with a Book Value of $500,000

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Assume a partnership has assets with a book value of $500,000 and a market value of $450,000.Outside liabilities of $100,000, loans payable to Partner A of $30,000 and capital balances of A $200,000, B $180,000 and C $150,000.How much would Partner A receive on liquidation of the partnership assuming partnership profit and loss is allocated equally
 A Loan  A  B  C $30,000$200,000$180,000$150,000 Loss on sale ($16,666) ($16,666) ($16,666) $183,334\begin{array} { | l | l | l | l | l | } \hline & \text { A Loan } & \text { A } & \text { B } & \text { C } \\\hline & \$ 30,000 & \$ 200,000 & \$ 180,000 & \$ 150,000 \\\hline \text { Loss on sale } & & ( \$ 16,666 ) & ( \$ 16,666 ) & ( \$ 16,666 ) \\\hline & & \$ 183,334 & & \\\hline\end{array}


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