The withdrawal of a partner who receives assets with a value exceeding his capital balance results in A. a decrease in purchase liabilities  B. an increase in the capital balances of the remaining partners  C. an increase in partnership assets D. a decrease in the capital balances of the remaining partners

In a partnership liquidation, the final cash payment to the partners should be made in accordance with the*a. balance of partners' capital accounts.b. partner's profit and loss sharing ratio.c. ratio of the capital contributions by partners.d. safe payment computations.

Generally, gain is not recognized on contribution of appreciated property to a partnership.  Which of the following situations may be an exception to that general rule? PICK ALL THAT APPLY!!!   Question 1 options:   The contributing partner contributes appreciated property to the partnership and shortly after receives a large distribution of cash from the partnership so that most of the partner's interest in the partnership is liquidated.  The exchange appears to essentially be a partial sale of the property through the partnership form.   The partner contributes appreciated property to a partnership and the partner is not in control of the partnership (over 50% ownership).   A partner receives a capital interest for services performed for the partnership.   The partner contributes a property to the partnership that is encumbered by a recourse liability, the partnership assumes the liability, and the net effect of these is to take…

An incoming partner may acquire an interest in the partnership for a price in excess of that indicated by the book value of the original partnership’s net assets. This situation would suggest the existence of: a. Unrecognized Goodwill b. Recognized Profit c. Unrecognized capital  d. Unrecognized excess of cash