The partnership liquidation

Reference no: EM13685956

Harriet, Mickey, and Zack decide to liquidate their partnership. All assets are sold and the liabilities are paid. Following these transactions, the capital balances and profit and loss percentages are as follows:
Harriet, $27,000 and 30%, Mickey $(12,000) and 40%; Zack, $43,000 and 30%. Mickey is unable to contribute any assets to reduce the deficit.
How much cash will Harriet receive as a results of the partnership liquidation.

Reference no: EM13685956

Questions Cloud

Fields of study behavioural economics and neuro economics : To increase marginal utility, you should decrease consumption (everything else held constant). This statement is correct, even though it sounds strange. Describe why. What is the purpose of the two fields of study behavioural economics and neuro econ..

Size of the plants or the amount of capital equipment : A firm has two plants, one in Mexico and one in the United States and it cannot change the size of the plants or the amount of capital equipment. The wage in Mexico is $5. The wage in the U.S. is $20.

Goal of maximizing the value of stock : Goal of maximizing the value of stock conflict with other goals

Which element of internal control deals with establishing : Which element of internal control deals with establishing procedures for things such as handling of income checks

The partnership liquidation : The partnership liquidation.

Hamilton profit margin be if blaine were dropped : What would Hamilton's profit margin be if Blaine were dropped?

Decrease in quantity demanded : For a particular good, a ten percent increase in price causes a three percent decrease in quantity demanded. Which of the following statements is most probable applicable to this good?

Customer consumes two normal goods-chocolate and coffee : A customer consumes two normal goods, chocolate and coffee. The price of coffee rises. The income effect, by itself, suggests that the customer will consume

When indifference curves are bowed inward : When indifference curves are bowed inward, the marginal rate of substitution is

User Account

All Pages