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Bill,Page,Larry,and Scott Have Decided to Terminate Their Partnership

question 33

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Bill,Page,Larry,and Scott have decided to terminate their partnership.The partnership's balance sheet at the time they decide to wind up is as follows:
During the winding up of the partnership,the other assets are sold for $150,000 and the accounts payable are paid.Page and Larry are personally solvent,but Bill and Scott are personally insolvent.The partners share profits and losses in the ratio of 3:2:1:4.
Bill,Page,Larry,and Scott have decided to terminate their partnership.The partnership's balance sheet at the time they decide to wind up is as follows: During the winding up of the partnership,the other assets are sold for $150,000 and the accounts payable are paid.Page and Larry are personally solvent,but Bill and Scott are personally insolvent.The partners share profits and losses in the ratio of 3:2:1:4.    -Based on the preceding information,what amounts will be distributed to Page and Larry upon liquidation of the partnership? A) Option A B) Option B C) Option C D) Option D
-Based on the preceding information,what amounts will be distributed to Page and Larry upon liquidation of the partnership?


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