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Find how much cash should be distributed to a

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Reference no: EM132756448

Problem 1: The remaining cash of a partnership (after creditors have been paid) upon liquidation is divided among partners according to their

A. capital balances

B. contribution of assets

C. drawing balances

D. income sharing ratio

Problem 2: A gain or loss on realization is divided among partners according to their

A. income sharing ratio

B. capital balances

C. drawing balances

D. contribution of assets

Problem 3: A and B are partners who share income in the ratio of 3:2 and have capital balances of $50,000 and $90,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $90,000. How much cash should be distributed to A?

A. $50,000

B. $20,000

C. $30,000

D. $45,000

Reference no: EM132756448

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