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What the amount B received from the liquidation

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Question - The partners of the A & B Partnership share net income and losses equally. Both A and B are insolvent. At the time they decided to liquidate the partnership, its balance sheet included the following: Cash, $1,000; Other Assets, $19,000; Liabilities, $8,000; A, Capital, $3,000; and B, Capital, $9,000. The other assets realized $12,000 and the liabilities were paid. What the amount B received from the liquidation of the partnership?

Reference no: EM133131175

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