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Before Liquidating Any Assets, the Partners Determined the Amount of Cash

question 33

Multiple Choice

Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000, and the liquidation expenses of $5,000 were paid. How much of the $120,000 would be distributed to the partners? (Hint: Either a predistribution plan or a schedule of safe payments would be appropriate for solving this item) $\begin{array} { | l | l | r | r | } \hline & \text { Henry } & { \text { Isaac } } & { \text { Jacobs } } \\\hline \text { A) } & \$ 33,000 & \$ 36,000 & \$ 51,000 \\\hline \text { B) } & \$ 28,000 & \$ 36,000 & \$ 56,000 \\\hline \text { C) } & \$ 29,333 & \$ 32,000 & \$ 58,667 \\\hline \text { D) } & \$ 24,000 & \$ 48,000 & \$ 48,000 \\\hline \text { E) } & \$ 38,000 & \$ 26,000 & \$ 56,000 \\\hline\end{array}$

Definitions:

Evolutionary Perspective

A theoretical approach in the social and natural sciences that examines psychological structure from a modern evolutionary perspective, it suggests that psychological adaptations evolve to solve recurrent problems in human ancestral environments.

Males

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Females

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Amniocentesis

A medical procedure used in prenatal diagnosis where a small amount of amniotic fluid is sampled from the amniotic sac surrounding a developing fetus.