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Business, 12.02.2021 01:40 Funkyatayo

Required information Skip to question A local partnership has assets of cash of $30,000 and land recorded at $700,000. All liabilities have been paid and the partners are all personally insolvent. The partners’ capital accounts are as follows Roberts, $500,000, Ferry, $300,000 and Mones, $30,000. The partners share profits and losses 5:3:2. If the land is sold for $450,000, what amount will Roberts receive in the final settlement?

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Required information Skip to question A local partnership has assets of cash of $30,000 and land rec...

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