A partnership has gone through liquidation and now reports the following account balances:
|
Cash |
$16,000 |
|
Loan from Jones |
3,000 |
|
Wayman, capital |
(2,000) (deficit) |
|
Jones, capital |
(5,000) (deficit) |
|
Fuller, capital |
13,000 |
|
Rogers, capital |
7,000 |
Profits and losses are allocated on the following basis: Wayman, 30 percent; Jones, 20 percent;
Fuller, 30 percent; and Rogers, 20 percent. Which of the following events should occur now?
a. Jones should receive $3,000 cash because of the loan balance.
b. Fuller should receive $11,800 and Rogers $4,200.
c. Fuller should receive $10,600 and Rogers $5,400.
d. Jones should receive $3,000, Fuller $8,800, and Rogers $4,200.