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Distribution of Cash Upon Liquidation Jason Bradley and Abdul Barak, with capital balances of $38,000 and $51,000, respectively, decide to liquidate their partnership. After selling
Distribution of Cash Upon Liquidation
Jason Bradley and Abdul Barak, with capital balances of $38,000 and $51,000, respectively, decide to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is $111,000 of cash remaining. If the partners share income and losses equally, how should the cash be distributed?
If an amount is zero, enter in "0".
Bradley and Barak | |||
Distribution of Cash | |||
Bradley | Barak | Total | |
Capital balances before realization | $ | $ | $ |
Division of gain on realization | |||
Capital balances after realization | $ | $ | |
Cash distributed to partners | |||
Final balances | $ | $ |
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