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In liquidation, balances prior to the distribution of cash to the partners are: Cash $903000; Kenneth, Capital $421000; Laney, Capital $386000, and Howell, Capital $96000.
In liquidation, balances prior to the distribution of cash to the partners are: Cash $903000; Kenneth, Capital $421000; Laney, Capital $386000, and Howell, Capital $96000. The income ratio is 6:2:2, respectively. How much cash should be distributed to Kenneth? $409000$421000$453000$373000 Step by Step Solution
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald Hilton, David Platt
10th edition
78025664, 978-0078025662
