Question

Agnes and Aunt Sue each invested $154,000 cash in the A&S Partnership, and each received a 50% interest in the partnership. To finance her investment in the partnership, Agnes borrowed $66,300 on a full recourse basis from her partner, Aunt Sue. Which of the following is correct? Multiple Choice Agnes’s at-risk amount in her partnership interest is $154,000. Aunt Sue’s at-risk amount in her partnership interest is $87,700. Aunt Sue’s at-risk amount in her partnership interest is $154,000. Agnes’s at-risk amount in her partnership interest is $87,700.

          Agnes and Aunt Sue each invested $154,000 cash in the A&S Partnership, and each received a 50% interest in the partnership. To finance her investment in the partnership, Agnes borrowed $66,300 on a full recourse basis from her partner, Aunt Sue. Which of the following is correct?
Multiple Choice
Agnes’s at-risk amount in her partnership interest is $154,000.
Aunt Sue’s at-risk amount in her partnership interest is $87,700.
Aunt Sue’s at-risk amount in her partnership interest is $154,000.
Agnes’s at-risk amount in her partnership interest is $87,700.

Added by Michael B.

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