Question

A local dental partnership has been liquidated and the final capital balances are Abbas, capital (40% of all profits and losses) $ 74,000 Baptiste, capital (30%) 34,000 Krishna, capital (20%) (44,000) Urias, capital (10%) (64,000) Required: If Urias contributes cash of $24,000 to the partnership, how would this amount be distributed to the other partners? Cash distribution Abbas Baptiste Krishna Urias

Name: a local dental partnership has been liquidated and the final capital balances are abbas capital 40 of all profits and losses 74000 baptiste capital 30 34000 krishna capital 20 44000 urias ca 06652
Uploaded: 2025-02-20T11:57:45-08:00
Duration: 2 min 13 s
Channel: Anand Jangid
Description: a local dental partnership has been liquidated and the final capital balances are abbas capital 40 of all profits and losses 74000 baptiste capital 30 34000 krishna capital 20 44000 urias ca 06652

          A local dental partnership has been liquidated and the final capital balances are
Abbas, capital (40% of all profits and losses) $ 74,000
Baptiste, capital (30%) 34,000
Krishna, capital (20%) (44,000)
Urias, capital (10%) (64,000)

Required:
If Urias contributes cash of $24,000 to the partnership, how would this amount be distributed to the other partners?

Cash distribution
Abbas
Baptiste
Krishna
Urias

a local dental partnership has been liquidated and the final capital balances are abbas capital 40 of all profits and losses 74000 baptiste capital 30 34000 krishna capital 20 44000 urias ca 06652

Added by Anthony G.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Anand Jangid

02/20/2025

Step 1

This means the partnership has no net assets or liabilities after liquidation, except for the capital balances. Urias has a capital deficit of $64,000. Urias contributes $24,000 in cash. This reduces Urias's deficit but does not eliminate it. Urias's new capital Show more…

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A local dental partnership has been liquidated and the final capital balances are Abbas, capital (40% of all profits and losses) $ 74,000 Baptiste, capital (30%) 34,000 Krishna, capital (20%) (44,000) Urias, capital (10%) (64,000) Required: If Urias contributes cash of $24,000 to the partnership, how would this amount be distributed to the other partners? Cash distribution Abbas Baptiste Krishna Urias