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kogti [31]
1 year ago
9

a local partnership was in the process of liquidating and reported the following capital account balances: justice, capital (40%

share of all profits and losses) $ 23,000 zobart, capital (35%) 22,000 douglass, capital (25%) (14,000 ) douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. however, the two remaining partners asked to receive the $31,000 that was then in the cash account. how much of this money should zobart receive?
Business
1 answer:
bogdanovich [222]1 year ago
8 0

Based on the capital account balances and the amount in the cash account, the amount that Zobart will receive is $15,467.

<h3>What will Zobart receive?</h3>

The amount that Zobart will receive can be found by the formula:

= (Deficit x percentage in partnership/ 75%) + Capital account balance

Solving for the amount going to Zobart gives:

= (14,000 x 35%/75%) + 22,000

= $15,467

In conclusion, the amount to Zobart is $15,467.

Find out more on capital distributions at brainly.com/question/22693552

#SPJ1

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