Soledad and winston are partners who share income in the, Ask an Expert

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Soledad and Winston are partners who share income in the ratio of 1:3 and have capital balances of $100,000 and $140,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $130,000. What amount of loss on realization should be allocated to Soledad?

a. $60,000

b. $27,500

c. $92,500

d. $32,500

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M961904

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