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Chen, Korhonen, Lebuca, and Swid are partners who share profits and losses on a 4:3:2:1 basis, respectively. They are beginning to liquidate the business.
Chen, Korhonen, Lebuca, and Swid are partners who share profits and losses on a 4:3:2:1 basis, respectively. They are beginning to liquidate the business. At the start of this process, capital balances are Chen, capital Korhonen, capital Lebuca, capital Swid, capital Required: $ 76,000 31,800 59,000 24,800 Prepare a predistribution plan to determine which partner will be the first to receive cash from the liquidation and what amount that partner will receive before other partners receive any cash. Note: Amounts to be deducted should be entered with a minus sign. > Answer is complete but not entirely correct. Chen Korhonen Lebuca Swid Beginning balances $ 76,000 $ 31,800 $ 59,000 $ 24,800 Assumed loss $ 0 0 (31,800) 0 0 Balances $ SA 0 $ 0 $ 0 $ 0 Assumed loss Balances 69 $ 0 0 $ 0 0 0 0 $ 0 $ 0 $ 0 Assumed loss $ Balances EA 0 0 0 0 0 $ 0 $ 0 $ 0 $ 0
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