Marcus is a general partner who owns a 50% interest in Barron Enterprises. Malcom is a...
Marcus is a general partner who owns a 50% interest in Barron Enterprises. Malcom is a limited partner who owns 50%. The partnership has $50000 in recourse liabilities and $30000 in non recourse liabilities. What is Marcus's total share of liabilities?
Homework Answers
| Amount $ | ||
| Recourse liabilities | 50,000 | =50000*100% |
| Add: Non- recourse liabilities | 15,000 | =30000*50% |
| Marcus total share of Liabilities | 65,000 | |
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