Mathematics, 03.06.2021 01:50 cpadoc7567
Kate, Sue, and Tina formed a partnership with income-sharing ratios of 50%, 30%, and
20%, respectively. Cash of $180,000 was available after the partnership’s assets were
liquidated. Prior to the final distribution of cash, Kate’s capital balance was $200,000,
Sue’s capital balance was $150,000, and Tina had a capital deficiency of $50,000. Based
upon a cash payments schedule, Kate should receive
a. $175,000.
b. $168,750.
c. $131,250.
d. $200,000.
Answers: 1
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Kate, Sue, and Tina formed a partnership with income-sharing ratios of 50%, 30%, and
20%, respectiv...
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