The Following Condensed Balance Sheet Is Presented for the Partnership

question 51

Multiple Choice

The following condensed balance sheet is presented for the partnership of D,E,and F who share profits and losses in the ratio of 5:3:2,respectively:
The partners agreed to liquidate the partnership after selling the other assets.
-Refer to the above information.If the other assets are sold for $80,000,and all partners are personally insolvent,how much should E receive upon liquidation?

• A)$0
• B)$6,000
• C)$10,000
• D)$20,000

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Definitions:

Sampling Distribution

A random sample's statistic's chance distribution.

Sample Size

The number of observations or data points collected in a sample, which can influence the reliability and accuracy of statistical analysis.

P-Value

The probability of observing data as extreme as, or more than, what was actually observed, assuming the null hypothesis is true.

Sample Proportion

The ratio of members in a sample that have a particular attribute to the total number of members in that sample.