A Local Partnership Was Considering the Possibility of Liquidation Since

question 15

Multiple Choice

A local partnership was considering the possibility of liquidation since one of the partners (Ding) was insolvent.Capital balances at that time were as follows.Profits and losses were divided on a 4:2:2:2 basis,respectively.
Ding's creditors filed a $25,000 claim against the partnership's assets.At that time,the partnership held assets reported at $360,000 and liabilities of $120,000.
If the assets could be sold for $228,000,what is the minimum amount that Ezzard's creditors would have received?

• A)$36,000.
• B)$0.
• C)$2,500.
• D)$38,250.
• E)$67,250.

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Definitions:

Muscle Action

The process of muscles contracting and relaxing to produce movement in various parts of the body.

Tropomyosin

A regulatory protein that wraps around actin filaments in muscle cells, playing a key role in muscle contraction by controlling access to binding sites for myosin.

Sarcomere

The basic contractile unit of muscle fiber, consisting of myofilaments.

Myofilaments

Protein filaments consisting of actin and myosin that interact within muscle cells to cause contraction.