A Local Partnership Was in the Process of Liquidating and Reported

question 66

Multiple Choice

A local partnership was in the process of liquidating and reported the following capital balances:
Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution.However,the two remaining partners asked to receive the $31,000 that was then available.
How much of this money should Justice receive?

• A)$15,000.
• B)$15,467.
• C)$17,333.
• D)$16,533.
• E)$15,867.

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