Multiple Choice
Alpha and Beta are partners who share income in the ratio of 1:2 and have capital balances of $40,000 and $70,000, respectively, at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $50,000. What amount of loss on realization should be allocated to Alpha?
A) $60,000
B) $20,000
C) $30,000
D) $50,000
Correct Answer:
Verified
Correct Answer:
Verified
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