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17 July, 15:57

Harriet, Mickey, and Zack decide to liquidate their partnership. All assets are sold, and the liabilities are paid. Following these transactions, the capital balances and profit and loss percentages are as follows: Harriet, $25,400 and 30%; Mickey, ($4,300) and 40%; Zack, $46,200 and 30%. Mickey is unable to contribute any assets to reduce the deficit. How much cash will Harriet receive as a result of the partnership liquidation?

a. $25,400

b. $24,110

c. $21,100

d. $23,250

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Answers (1)
  1. 17 July, 19:43
    0
    The answer is d. $23,250

    Explanation:

    Harriet and Zack share the loss equally

    Harriet will pay = $25,400 + ($4,300) / 2 = $23,250
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