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I need help in this question. Please do it correctly and 100% and do not make any mistake. 1 Bracken, Louden, and Menser, who share
I need help in this question. Please do it correctly and 100% and do not make any mistake.
1 Bracken, Louden, and Menser, who share profits and losses in a ratio of 3:2:2, respectively are partners in a home decorating business that has not been able to generate the income the partners had hoped for. They have decided to liquidate the business and have sold all assets except for their decorating equipment. All partnership liabilities have been settled and all the partners are personally insolvent. The decorating equipment has a book value of $64.400, and the partners have capital account balances as follows: 5 points Bracken, capital Louden, capital Menser, capital $45, 350 6,350 12,70 eBook Requlred: Determine the amount of cash each partner will receive as a liquidating distribution if the decorating equipment stated in each of the following independent cases: (Do not round Intermediate calculations.) sold for the amount Print a. $49.000 References Capital Balances Bracken Louden Menser Final distribution of cash b. $39.900 Capital Balances Louden Bracken Menser Final distribution of cash c. $25.900 Capital Balances Bracken Louden Menser Final distribution of cash BEStep by Step Solution
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