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S and T are equal partners in the ST partnership and share profits and losses accordingly.

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 of the assets are sold for $40,000. How much will T receive in liquidation if the special allocation is to be respected?

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1 comment
  • Correction: T will receive 60,000
    • dinamarcanete
    • Apr 04, 2018 at 9:45am

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