Reference no: EM132713271
Problem 1: If the partnership's cash is ?25,000, the net assets are ?250,000, and the total claim of outside creditors is ?200,000, the total amount of the partnership's non-cash assets would be
a. ?525,000
b. ?275,000
c. ?425,000
d. ?325,000
Problem 2: Ron, Don, and Jon are to contribute cash at an agreed capital contribution of 1/5; 3/10 and 1/2 respectively. Don contributed ?45,000 cash. The amount of Ron and Jon's contribution would be:
a. ?27,000 and ?75,000 respectively
b. ?27,000 and ?67,500 respectively
c. ?50,000 and ?75,000 respectively
d. ?30,000 and ?75,000 respectively
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