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How much will t receive in liquidation

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Question - S and T are equal partners in the ST partnership and share profits and losses accordingly. At the end of the current year, the partnership's capital accounts reflect the following numbers due to a special allocation of depreciation:

Capital S = ($20,000)

Capital T = $60,000

All of the assets are sold for $40,000. How much will T receive in liquidation if the special allocation is to be respected?

Reference no: EM131932407

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