Chapter 05, Partnership, termination and liquidation

Tto make up the deficit o to q the remaining partners

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Unformatted text preview: a contribution The The to make up the deficit. tto make up the deficit. o to q The remaining partners can absorb the qThe remaining partners can absorb the The The deficit. deficit. deficit. deficit. The deficit partner may pay later or can be sued The deficit partner may pay later or can be sued The The for the deficit amount. ffor the deficit amount. or for Page 19 Deficit Capital Balance Loss to Remaining Partners Contributions made by the deficit partner(s) are Contributions made by the deficit partner(s) are distributed to the non-deficit partners based distributed to the non-deficit partners based on their relative profit sharing %. on their relative profit sharing %. I am glad Barbara sent am a check to cover her deficit capital balance. deficit Big deal! I only Big get 2% of that payment! payment! Page 20 Deficit Capital Balance Loss to Remaining Partners Contributions made by the deficit partner(s) are Contributions made by the deficit partner(s) are distributed to the non-deficit partners based distributed to the non-deficit partners...
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This document was uploaded on 03/25/2014.

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