Question 12 15 points Partners Ana Beth and Cathy have capit

Question 12 (1.5 points) Partners Ana, Beth, and Cathy have capital account balances of $90,000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating the partnership, noncash assets with a book value of $75,000 are sold for $30,000. The balance of Beth\'s Capital account after the sale is A) $67,500. B) $81,000 C) $99,000.

Solution

Ans: Option B

Solu : Loss on disposal of non cash assets = $ (75000-30000) = $45000

    Share of Beth in Loss : $45000 x 2/10 = $ 9000

            Balance of Beth Capital after Sale = $ 90000- 9000 = $ 81000