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The balance sheet given below is
presented for the partnership of
Jaber, Ashraf, and Malek:
Cash $
60,000
Liabilities $80,000
Other
Assets
150,000 Jaber,
Capital
80,000
Ashraf,
Capital
30,000
Malek,
Capital
20,000
Total $
210,000
Total $
210,000
The partners share profits and
losses in the ratio of 5:3:2,
respectively. The partners agreed
to dissolve the partnership after
selling the other assets for
$50,000. On dissolution of the
partnership, how much would
Jaber receive if Ashraf received
$12,000?
a. $ 0
b. $30,000
c. $25,000
d. $5,000
Answer ( 1 )
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