Business, 29.10.2019 22:31 asheeee58

Turner, roth, and lowe are partners who share income and loss in a 1: 4: 5 ratio. after lengthy disagreements among the partners and several unprofitable periods, the partners decide to liquidate the partnership. immediately before liquidation, the partnership balance sheet shows total assets, $126,000; total liabilities, $78,000; turner, capital, $2,500; roth, capital, $14,000; and lowe, capital, $31,500. the cash proceeds from selling the assets were sufficient to repay all but $28,000 to the creditors. assume that the turner, roth, and lowe partnership is a limited partnership. turner and roth are general partners and lowe is a limited partner. how much should each partner contribute to cover the remaining capital deficiency of $28,000? (do not round intermediate calculations. losses and deficits amounts to be deducted should be entered with a minus sign.)

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Turner, roth, and lowe are partners who share income and loss in a 1: 4: 5 ratio. after lengthy disa...