Accounting Assignment | Custom Assignment Help
October 4th, 2019
S and T are equal partners in the ST Partnership and share profits and losses accordingly. At the end of the current year, the partnership’s capital accounts reflect the following numbers due to a special allocation of depreciation:
Capital S = ($20,000)
Capital T = $60,000
All the assets are sold for $40,000. How much will T receive in liquidation if the special allocation is to be respected?
$20,000
$40,000
$60,000
$80,000
