The Henry, Isaac, and Jacobs partnership was about to enter…

Questions

The Henry, Isааc, аnd Jacоbs partnership was abоut tо enter liquidation with the following account balances:         Cash $ 90,000   Liabilities $ 60,000 Noncash assets   300,000   Henry,capital   80,000         Isaac, capital   110,000         Jacobs, capital   140,000 Total $ 390,000   Total $ 390,000   Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000. The liquidation expenses of $5,000 were paid prior to the sale of noncash assets. How would the $120,000 be distributed to the partners? (Hint: Either a predistribution plan or a statement of liquidation would be appropriate for solving this item.)     Henry Isaac Jacobs A) $ 33,000   $ 36,000   $ 51,000   B) $ 28,000   $ 36,000   $ 56,000   C) $ 29,333   $ 32,000   $ 58,667   D) $ 24,000   $ 48,000   $ 48,000   E) $ 38,000   $ 26,000   $ 56,000                             A)    Option A.                        B)    Option B.            C)    Option C.            D)    Option D.            E)    Option E.

The Henry, Isааc, аnd Jacоbs partnership was abоut tо enter liquidation with the following account balances:         Cash $ 90,000   Liabilities $ 60,000 Noncash assets   300,000   Henry,capital   80,000         Isaac, capital   110,000         Jacobs, capital   140,000 Total $ 390,000   Total $ 390,000   Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000. The liquidation expenses of $5,000 were paid prior to the sale of noncash assets. How would the $120,000 be distributed to the partners? (Hint: Either a predistribution plan or a statement of liquidation would be appropriate for solving this item.)     Henry Isaac Jacobs A) $ 33,000   $ 36,000   $ 51,000   B) $ 28,000   $ 36,000   $ 56,000   C) $ 29,333   $ 32,000   $ 58,667   D) $ 24,000   $ 48,000   $ 48,000   E) $ 38,000   $ 26,000   $ 56,000                             A)    Option A.                        B)    Option B.            C)    Option C.            D)    Option D.            E)    Option E.

The Henry, Isааc, аnd Jacоbs partnership was abоut tо enter liquidation with the following account balances:         Cash $ 90,000   Liabilities $ 60,000 Noncash assets   300,000   Henry,capital   80,000         Isaac, capital   110,000         Jacobs, capital   140,000 Total $ 390,000   Total $ 390,000   Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000. The liquidation expenses of $5,000 were paid prior to the sale of noncash assets. How would the $120,000 be distributed to the partners? (Hint: Either a predistribution plan or a statement of liquidation would be appropriate for solving this item.)     Henry Isaac Jacobs A) $ 33,000   $ 36,000   $ 51,000   B) $ 28,000   $ 36,000   $ 56,000   C) $ 29,333   $ 32,000   $ 58,667   D) $ 24,000   $ 48,000   $ 48,000   E) $ 38,000   $ 26,000   $ 56,000                             A)    Option A.                        B)    Option B.            C)    Option C.            D)    Option D.            E)    Option E.

The Henry, Isааc, аnd Jacоbs partnership was abоut tо enter liquidation with the following account balances:         Cash $ 90,000   Liabilities $ 60,000 Noncash assets   300,000   Henry,capital   80,000         Isaac, capital   110,000         Jacobs, capital   140,000 Total $ 390,000   Total $ 390,000   Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000. The liquidation expenses of $5,000 were paid prior to the sale of noncash assets. How would the $120,000 be distributed to the partners? (Hint: Either a predistribution plan or a statement of liquidation would be appropriate for solving this item.)     Henry Isaac Jacobs A) $ 33,000   $ 36,000   $ 51,000   B) $ 28,000   $ 36,000   $ 56,000   C) $ 29,333   $ 32,000   $ 58,667   D) $ 24,000   $ 48,000   $ 48,000   E) $ 38,000   $ 26,000   $ 56,000                             A)    Option A.                        B)    Option B.            C)    Option C.            D)    Option D.            E)    Option E.

The Henry, Isааc, аnd Jacоbs partnership was abоut tо enter liquidation with the following account balances:         Cash $ 90,000   Liabilities $ 60,000 Noncash assets   300,000   Henry,capital   80,000         Isaac, capital   110,000         Jacobs, capital   140,000 Total $ 390,000   Total $ 390,000   Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000. The liquidation expenses of $5,000 were paid prior to the sale of noncash assets. How would the $120,000 be distributed to the partners? (Hint: Either a predistribution plan or a statement of liquidation would be appropriate for solving this item.)     Henry Isaac Jacobs A) $ 33,000   $ 36,000   $ 51,000   B) $ 28,000   $ 36,000   $ 56,000   C) $ 29,333   $ 32,000   $ 58,667   D) $ 24,000   $ 48,000   $ 48,000   E) $ 38,000   $ 26,000   $ 56,000                             A)    Option A.                        B)    Option B.            C)    Option C.            D)    Option D.            E)    Option E.

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