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    dadream45's Avatar
    dadream45 Posts: 1, Reputation: 1
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    #1

    Feb 28, 2010, 05:40 PM
    Liquidating partnership
    Prior to liquidating their partnership, Perkins and Dunn had capital accounts of $58,000 and $105,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of those assets. These partnership assets were sold for $145,000. The partnership had $7,000 of liabilities. Perkins and Dunn share income and losses equally. Determine the amount received by Dunn as a final distribution from liquidation of the partnership.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Feb 28, 2010, 10:14 PM

    Please review the guidelines for posting homework:
    https://www.askmehelpdesk.com/financ...-b-u-font.html
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