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The partnership of Gwen, Bill, and Sissy is liquidating and the ledger shows the following: Cash .......... $ 80,000 Inventories......... 100,000 Accounts payable..... 60,000 Gwen
The partnership of Gwen, Bill, and Sissy is liquidating and the ledger shows the following: Cash .......... $ 80,000 Inventories......... 100,000 Accounts payable..... 60,000 Gwen capital (50%) ... 40,000 Bill capital (25%) ...... 45,000 Sissy capital (25%).... 35,000 If all available cash is distributed immediately: a. Gwen, Bill, and Sissy should get $26,667 each b. Gwen, Bill, and Sissy should get $6,667 each c. Gwen should get $10,000, and Bill and Sissy should get $5,000 each d. Bill should get $15,000, and Sissy $5,000
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