When the partnership is dissolved its assets are 50000 and, Accounting Basics

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When the partnership is dissolved its assets are 50000 and

1. Don and Eve form a partnership. Eve's capital contribution is $10,000, and Don's is $15,000. The partnership agreement provides that profits are to be shared, with 40 percent for Eve and 60 percent for Don. Later, Eve makes a $10,000 loan to the partnership when it needs working capital. When the partnership is dissolved, its assets are $50,000, and its debts are $8,000. How should the assets be distributed?

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Accounting Basics: When the partnership is dissolved its assets are 50000 and

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