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Which a partnership loan payable to the partner is

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Reference no: EM132744896

Problem 1: In installment liquidation computation, a partnership loan payable to the partner is

a. Added to the other regular liabilities of the partnership

b. Added to the balance in the partner's capital account

c. Deducted from the balance in the partner's capital account

d. Ignored during the calculation

Problem 2: In installment liquidation, each cash installment is distributed:

a. In the partner's profit and loss ratio

b. In the ratio of partner's capital account balances

c. As agreed to by the partners

d. As if no more cash would be collected anymore

Reference no: EM132744896

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