4. The partnership of Gee, Ben, and Sim is liquidating and the ledger shows the following: Cash...

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4. The partnership of Gee, Ben, and Sim is liquidating and the ledger shows the following:

Cash $80,000 Inventories 100,000 Accounts payable 60,000 Gee capital (50%) 40,000 Ben capital (25%) 45,000 Sim capital (25%) 35,000 586 CHAPTER 17 If all available cash is distributed immediately:

a Gee, Ben, and Sim should get $26,667 each b Gee, Ben, and Sim should get $6,667 each c Gee should get $10,000, and Ben and Sim should get $5,000 each d Ben should get $15,000, and Sim $5,000

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Advanced Accounting

ISBN: 9781292214597

13th Global Edition

Authors: Joseph H. Anthony, Bruce Bettinghaus, Floyd A. Beams, Kenneth Smith

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