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How much did C absorb in the capital deficiency

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Reference no: EM132917875

Question - ABC Partnership have the following balances before liquidation:

Cash 250,000 Accounts payable 50,000

Non-cash assets 500,000 A, loan 10,000

A, Capital (45%) 190,000

B, Capital (40%) 350,000

C, Capital (15%) 150,000

If all the partners are insolvent and the non-cash assets were sold at P 50,000, How much did C absorb in the capital deficiency of the deficient partner?

Reference no: EM132917875

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