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netineya [11]
2 years ago
15

When a partnership is liquidated, how is the final distribution of partnership cash made to the partners?

Business
1 answer:
velikii [3]2 years ago
4 0

According to the profit and loss the partnership is liquidated, and the final distribution of partnership cash is made to the partners.

When a partnership is liquidated, how is the final distribution of partnership cash made to the partners? Which of the subsequent statements is actually concerning the accounting for a partnership going via liquidation? within a liquidation, all gains and losses are divided equally among some of the partners.

The partnership comes to a decision to liquidate, the property of the partnership is sold, liabilities are paid off, and any remaining coins are sent to the companions according to their capital account balances.

Liquidating distributions (coins or noncash) are a form of a return of capital. Any liquidating distribution you receive isn't always taxable to you until you recover the basis of your inventory. After the idea of your stock is reduced to zero, you ought to document the liquidating distribution as a capital advantage.

Learn more about partnership Liquidating here:brainly.com/question/24131354

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Answer:

Market Testing Stage

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4 years ago
Lexis Company purchased equipment on January 1, 2012 for $35,500. The estimated useful life of the equipment was 7 years and the
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Answer:

The depreciation expense for 2015 is $2,000

Explanation:

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= 2,000

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3 years ago
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vekshin1

Answer:

Both goods are originally labor intensive, so we can conclude that the country has a lot of labor resources, while their capital resources should be rather limited. Since the world price of good X increases compared to the price of good Y, then the country will export larger amounts of good X since its price is relatively higher.

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Bono was kicked out of the band U2 for failing to attend rehearsals on time and constantly cutting the strings of Adam Clayton b
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Answer:

B

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