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Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership. Prior to realization, their capital balances are $28,000 and

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Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership. Prior to realization, their capital balances are $28,000 and $18,000, respectively. After a. What is the amount of a gain or loss on realization? Gain or Loss all noncash assets are sold and all liabilities are paid, there is a cash balance of $35,000. Amount b. How should the gain or loss be divided between Hewitt and Patel? Hewitt Patel c. How should the cash be divided between Hewitt and Patel? If an amount is zero, enter "0"- Hewitt and Pate Distribution of Cash Hewitt tPate Capital balances before realization Division of gain or loss on realization Balances Cash distributed to portners Final balances )? ]

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