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Bauer and Flynn share profits and losses in the ratio of 60/40

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11. If the Other Assets are sold for a lump sum of $70,000;Bauer will receive which of the following amounts from;the partnership?;A. $20,000;B. $14,000;c. $12,000;D. $10,000="msonormal">;12. If the Other Assets are sold for a lump sum of $60,000 and;Flynn is solvent, Bauer will receive;A. $20,000.;B. $14,000.;c. $8,000.;D. $5,000.="msonormal">;13. Assuming the partnership is liquidated on an installment;basis and Other Assets with a book value of $50,000 are;sold for $70,000, which one of the following amounts may;be paid to Bauer at that time?;A. $32,000;B. $20,000;c. $15,000;D. $12,500="msonormal">

 

Paper#44004 | Written in 18-Jul-2015

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