Before the final distribution of cash, account balances are: Cash $25,000; B. Robertson, Capital $19,000 (Cr.); L.
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Before the final distribution of cash, account balances are: Cash $25,000; B. Robertson, Capital $19,000 (Cr.); L. Mitchell, Capital $12,000 (Cr.); and T. Wynne, Capital $6,000 (Dr.). Wynne is unable to pay any of the capital deficiency. If the income-sharing ratios are 5 : 3 : 2, respectively, how much cash should be paid to L. Mitchell?
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L Mitchell should receive 18 000 in cash This is calculated by ap...View the full answer
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Related Book For 
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso
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