On December 1,20X9,the Partners of Tim,Williams,and Levin,who Share Profits and Losses

question 24

Multiple Choice

On December 1,20X9,the partners of Tim,Williams,and Levin,who share profits and losses in the ratio of 4:4:2,decided to liquidate their partnership.On this date the partnership condensed balance sheet was as follows:

On December 11,20X9,the first cash sale of other assets with a carrying amount of $200,000 realized $140,000.Safe installment payments to the partners were made on the same date.How much cash should be distributed to each partner?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Frequencies

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