Liquidating partnership with capital deficiency dating french canadian man

Cash and noncash assets total ,200 and ,900, respectively. The partners share income and losses in the ratio of 2:1:1.Between February 3 and February 28, the noncash assets are sold for ,300, the partner with the capital deficiency pays the deficiency to the partnership, and the liabilities are paid.1.

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Cash and noncash assets total ,200 and ,300, respectively. The partners share income and losses in the ratio of 1:1:2.

On November 1, 2014, the firm of Sails, Welch, and Greenberg decided to liquidate their partnership.

The partners have capital balances of ,000, ,000, and ,000, respectively. Rachel Bell contributed a patent, accounts receivable, and ,000 cash to a partnership. However, the technology covered by the patent appeared to have significant market potential. Beyonce Sheffield and Brittany Field decide to form a partnership by combining the assets of their separate businesses.

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