Mary annand tina formed a partnership with income-sharing, Ask an Expert

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Mary ,Ann,and Tina formed a partnership with income-sharing ratios of 50%,30%,and 20%, respectinely. Cash of $300,000 was available after the partnership's assets were liquidated. Prior to the final distribution of cash, Mary's capital balance was $200,000, Ann's capital balance was $150,000, and Tina had a capital deficiency of $50,000.Assuming Tina contributes cash to match her capital deficiency,Mary should receive?

A) $175,000

B) $168,750

C) $131,250

D) $200,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M971945

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