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Dione is a general partner who owns 50% interest in Love First Enterprises. Sammy is a limited partner who also owns 50%. The partnership has $50,000 in recourse liabilities and $20,000 in nonrecourse liabilities. What is Dione's total share of liabilities?a. $35,000
b. $45,000
c. $60,000
d. $70,000

Respuesta :

Answer:

c. $60,000

Explanation:

The computation of the total share of liabilities is shown below:

= Recourse liabilities + half of the non-recourse liabilities

= $50,000 + $10,000

= $60,000

Since Sammy is a limited partner so he should not be entitled to the recourse liabilities and the 50% is the partnership interest so half of the amount is allocated to the non-recourse liabilities

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