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Online teacx ignment/takeAssignment Main.do?irwoker=&takeAssignmentSessionLocator - Sinprogress=false eBook Distribution of Cash Upon Liquidation Hewitt and Patel are partners, sharing gains and losses equally. They decide to
Online teacx ignment/takeAssignment Main.do?irwoker=&takeAssignmentSessionLocator - Sinprogress=false eBook Distribution of Cash Upon Liquidation Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership, Prior to realization, the capital balances are $25,000 and $18,000, respectively. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $35,000, a. What is the amount of a gain or loss on realization? Loss 11,000 Feedback Check My Work Suttract the sum of me capital accounts from the cash balance is post then there is a ganarses capital of the amount med en capital b. How should the gain or loss be divided between Hewitt and Patel Hewitt Los 35,000 X Patel LONS 35,000 X Feedback Checy Won
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