Jorge, Jamil, and Jihad are partners in a Limited partnership, Jorge & Jamil are general partners, while Jihad is a limited partner Share capital balances of S50,000, S45,000, and $20,000, respectively. sharing the profits and losses equally, and they liquidated the firm, Realization Account was 90000 debit balance, Jorge's share from the firm cash was o 15000 50000 45000
Jorge, Jamil, and Jihad are partners in a Limited partnership, Jorge & Jamil are general partners, while Jihad is a limited partner Share capital balances of S50,000, S45,000, and $20,000, respectively. sharing the profits and losses equally, and they liquidated the firm, Realization Account was 90000 debit balance, Jorge's share from the firm cash was o 15000 50000 45000
Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations
Section: Chapter Questions
Problem 42P
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Transcribed Image Text:Jorge, Jamil, and Jihad are partners in a Limited partnership, Jorge & Jamil are general partners, while Jihad is a limited partner Share capital balances of
S50,000, $45,000, and $20,000, respectively. sharing the profits and losses equally, and they liquidated the firm, Realization Account was 90000 debit balance,
Jorge's share from the firm cash was
o 15000
O 50000
45000
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