Liquidating partnership with capital deficiency Free sex chat with girls in bangalore
After asset liquidation the partner capital accounts will have the following balances: Notice that Bills capital balance is now $(3,000) or negative.
Creditors (Points : 1)must collect their claims equally from Milliken and collect the entire ,000 from collect their claims 75% from Milliken and 25% from not require Salinas to use his personal assets to satisfy the ,000 in claims. Partners Gary and Elaine have agreed to share profits and losses in an ratiorespectively, after Gary is allowed a salary allowance of ,000 and Elaine is allowed a salaryallowance of ,000. Brian will invest a truck with a book value of,000 and a fair value of ,000.
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Any remainingnet income or net loss is shared equally.
What is the balance of Browning's Capital account at the end of the year after net income has beendistributed?