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Business, 27.11.2020 01:00 channarlawassociate

A partnership has the following balance sheet prior to liquidation (partners’ profit and loss ratios are in parentheses):Cash$33,000Liabilities $50,000Other assets 100,000Playa, capital (40%) 24,000Bahia, capital (30%) 29,000Arco, capital (30%) 30,000Total$133,000Total$133,000Dur ing liquidation, other assets are sold for $80,000, liabilities are paid in full, and $15,000 in liquidation expenses are paid. What amount of cash does each partner receive as a result of this liquidation?Multiple ChoicePlaya, $16,000; Bahia, $23,000; Arco, $24,000.Playa, $19,200; Bahia, $14,400; Arco, $14,400.Playa, $6,000; Bahia, $4,500; Arco, $4,500.Playa, $10,000; Bahia, $18,500; Arco, $19,500.

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A partnership has the following balance sheet prior to liquidation (partners’ profit and loss ratios...

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