Question
In liquidation, balances prior to the distribution of cash to the partners are: Cash $239000; Paley, Capital $111200; Stengel, Capital $104000, and King, Capital $23800.
In liquidation, balances prior to the distribution of cash to the partners are: Cash $239000; Paley, Capital $111200; Stengel, Capital $104000, and King, Capital $23800. The income ratio is 6:2:2, respectively. How much cash should be distributed to Paley?
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Accounting Theory Contemporary Accounting Issues
Authors: Thomas G. Evans
1st Edition
0324107846, 9780324107845
