Prior to Liquidating Their Partnership, Craig and Jenny Had Capital

question 68

Essay

Prior to liquidating their partnership, Craig and Jenny had capital accounts of $70,000 and $110,000, respectively. The partnership assets were sold for $285,000. The partnership had $25,000 of liabilities. Craig and Jenny share income and losses equally. Determine the amount received by Jenny as a final distribution from liquidation of the partnership.

Identify the characteristics and structures of different network topologies.

Recognize security measures implemented in networked environments.

Distinguish between different network devices and their functions.

Understand the administration challenges of peer-to-peer networks.

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Definitions:

Distribution

The process of making a product or service available for consumption or use by a consumer or business user.

Risk Taking

The willingness to engage in behaviors that have the potential to be harmful or dangerous, yet also provide the opportunity for some kind of outcome that can be seen as positive.

Facilitating Functions

Activities that help in the smooth exchange of products and services between producers and consumers, such as financing, marketing information management, and logistics.

Channel Intermediaries

Firms or individuals such as wholesalers, agents, brokers, and retailers who help move a product from the producer to the consumer or business user.