A Local Partnership Was Considering the Possibility of Liquidation Since

question 46

Multiple Choice

A local partnership was considering the possibility of liquidation since one of the partners (Ding) was personally insolvent. Capital balances at that time were as follows. Profits and losses were divided on a 4:2:2:2 basis, respectively. $$\begin{array} { l r } \text { Ding, capital } & \$ 60,000 \\\text { Laurel, capital } & 67,000 \\\text { Ezzard, capital } & 17,000 \\\text { Tillman, capital } & 96,000\end{array}$$ Creditors of partner Ding filed a $25,000 claim against the partnership's assets. At that time, the partnership held noncash assets reported at $360,000 and liabilities of $120,000. There was no cash on hand at the time.
-If the assets could be sold for $228,000, what is the minimum amount that Ding's creditors would have received?

• A) $36,000.
• B) $0.
• C) $2,500.
• D) $38,720.
• E) $67,250.

Understand the significance of the meningeal layers for accessing and studying the spinal cord.

Understand the factors that affect organization design, including environmental, strategic, and personnel considerations.

Recognize the role and structure of divisions within an organization.

Comprehend the purpose and limitations of organization charts.

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Definitions:

Maltose

A disaccharide sugar made of two glucose units, commonly produced during the digestion of starch.

Isomaltose

A disaccharide consisting of two glucose molecules linked together, often produced during the digestion of starch.

Secretin

Secretin is a hormone produced by the S cells of the duodenum that stimulates the pancreas to release bicarbonate-rich fluids, aiding in the neutralization of stomach acid in the small intestine.

Small Intestine

A part of the gastrointestinal tract between the stomach and the large intestine that is responsible for most of the digestion and absorption of nutrients.