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Question(s) / Instruction(s):

A local partnership was in the process of liquidating and reported the following capital balances:

   Justice, capital (40% share of all profits and losses)                        $23,000

Zobart, capital (35%)                                                                                       $22,000

Doughlass, capital (25%)                                                                               ($14,000)

 

Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.

How much of this money should Zobart receive?

A. $15,467.

B. $14,467.

C. $17,333.

D. $15,633.

E. $15,867.

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