bary , lincoln and mapes arranged to import and sell orchid corsages for a university dance. They agreed to share equally the net loss of the venture. Bray and Lincoln advanced $720 and $1,080 of their ow

n respective funds to pay for advertising and other expenses. After collecting for all sales and paying creditors, the partnership has $2,910 in cash.

signment/takeAssignmentMain.do?inprogress%3Dtrue eBook Calculator Distribution of Cash Upon Liquidation Bray, Lincoln, and Mapes arranged to import and sell orchid corsages for a university dance. The venture. Bray and Lincoln advanced $720 and $1,080 of their own respective funds to pay for a and paying creditors, the partnership has $2,910 in cash. Use the minus sign to indicate any deficiency for the capital accounts. For those boxes in which you must enter subtractive or negative numbers use a minus sign. a. How much net income was earned from the venture? b. How should the money be distributed? Bray Lincoln Mapes Capital balances and cash distribution C. Assume that the partnership has only $1,560 instead of $2,910. Do any of the three partners If so, how much? Bray Lincoln Mapes Capital balances Check My Work 3 more Check My Work uses remaining