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What are the rights and liabilities of each partner

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A, B, C, D and E are partners of X partnership. E is an industrial partner. They agreed that A will receive 50% of the profits and the rest will be shared equally by the rest of the partners. However, the partnership incurred losses of P120,00.00 and it owes Y the said amount.

Problem 1: How much can Y collect from A, B, C, D and E?

Problem 2: What are the rights and liabilities of EACH partner and how much should be their contribution after paying Y, if any?

Reference no: EM132855914

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