What liabilities have been paid

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Q. A local partnership has assets of cash of $130,000 also land recorded at $700,000. All liabilities have been paid also the partners are all personally insolvent. The partners' capital accounts are as follows Roberts, $500,000, Ferry, $300,000 also Mones, $30,000. The partners share profits also losses 5:3:2.

Reference no: EM1396541

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