How much cash is available for distribution to the partners, Accounting Basics

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How much cash is available for distribution to the partners

Everett, Miguel, and Ramona are partners, sharing income 1:2:3. After selling all of the assets for cash, dividing losses on realization, and paying liabilities, the balances in the capital accounts are as follows: Everett, $50,000 Cr.; Miguel, $40,000 Dr.; and Ramona, $30,000 Cr. How much cash is available for distribution to the partners?

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Accounting Basics: How much cash is available for distribution to the partners

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Accounting Basics: How much cash is available for distribution to the partners

Reference No:- TGS079924

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Recent Questions Asked Accounting Basics

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Ask an Expert for Answer!!

Accounting Basics: How much cash is available for distribution to the partners

Reference No:- TGS079924

Recent Questions Asked Accounting Basics

Q : What organisms do you find in bean water

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Q : How will compton and danson share in the division of income

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Q : How much of the net income of $90,000 is allocated

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