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In liquidation, balances prior to the distribution of cash to the partners are: Cash $762000; Charles, Capital $410000; Laney, Capital $387000, and Howell, Capital $35000
In liquidation, balances prior to the distribution of cash to the partners are: Cash $762000; Charles, Capital $410000; Laney, Capital $387000, and Howell, Capital $35000 deficiency. The income ratio is 6:2:2, respectively. How much cash should be distributed to Laney if Howell does not pay his deficiency? O $353250 O $378250 $387000 O $364000 Step by Step Solution
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz, Rhonda Pyper
2nd canadian edition
133025071, 978-0133519761, 133519767, 978-0133523676, 133523675, 978-0133025071
