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Find what is the partnership agreed capital

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Problem 1: The Mac-Don-Ald Partnership is being liquidated. All liabilities have been paid and the remaining assets are being realized gradually. The equity of the partners is as follows: MAC: Capital - ?33,000, Loans Payable -?7,000, P&L Ratio - 2; DON: Capital - ?42,000, P&L Ratio - 3; ALD: Capital - ?95,000, Loans Receivable -?15,000, P&L Ratio - 5. The second cash payment to any partner/s under program of priorities shall be made thus:

a. To Mac - ?6,000
b. To Mac -?4,000
c. To Ald - ?10,000
d. To Mac -?4,000 and Ald -?10,000

Problem 2: Bea and Gerald are partners who has a capital of ?90,000 each and share profits and losses equally. The offer is to admit Julia for one-third interest in the firm upon her investment of an amount equal to the agreed capital as a new partner. What is the partnership's agreed capital?

a. ?180,000
b. ? 90,000
c. ?270.000
d. ?135,000

Reference no: EM132739852

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