S and T are equal partners in the ST partnership

S and T are equal partners in the ST partnership

Question # 00670872 Posted By: rey_writer Updated on: 04/10/2018 11:40 AM Due on: 04/10/2018
Subject Accounting Topic Accounting Tutorials:
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S and T are equal partners in the ST partnership and share profits and losses accordingly. At the end of the current year, the partnership's capital accounts reflect the following numbers due to a special allocation of depreciation:


Capital S = ($20,000)

Capital T = $60,000


All of the assets are sold for $40,000. How much will T receive in liquidation if the special allocation is to be respected?
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  1. rey_writer
    Tutorial # 00670023 Posted By: rey_writer Posted on: 04/10/2018 11:41 AM
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