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Question(s) / Instruction(s):

A local partnership has assets of cash of $5,000 and a building recorded at $80,000. All liabilities have been paid. The partners capital accounts are as follows Harry $40,000, Landers $30,000 and Waters 15,000. The partners share profits and losses 4:4:2.

 

If the building is sold for $50,000, how much cash will Harry receive in the final settlement?

A. $5,000.

B. $9,000.

C. $18,000.

D. $28,000.

E. $55,000.

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