water. There are the Mertens an Total 40 x 10 the notion of the theater Lincoln Me Distribution of Cash Upon Liquidation Bray, Lincoln, and Mapes arranged to import and sell orchid corsages for a university dance. They agreed to share equally the net income ornet loss of the venture, trav and Lincoln advanced 1900 and $450 of their own respective funds to pay for advertising and other expenses. After collecting for sales and wing creditors, the partner 1.230 inch Use the minus sign to indicate any deficiency for the capital accounts For those boxes in which you must enter subtractive or negative numbers use a minusson a. How much net income was earned from the venture? 180 b. How should the money be distributed Bray Lincoln Mopes Total 450 X 5 450 X Capital balances and cash distribution 1,230 C. Assume that the partnership has only $660 instead of $1,230, Do any of the three partners have a capital de cont Yes If so, how much Lincoln Bray Mapes Total Capital balances OBOOK Distribution of Cash Upon Liquidation Bray, Lincoln, and Mapes arranged to import and sell orchid corsages for a university dance. They agreed to share equally the net income ar net loss of the venture. Bray and Lincoln advanced $300 and 5450 of their own respective funds to pay for advertising and other expenses. After collecting for all sales and paying creditors, the partnership has $1,220 in cash. Use the minus sign to indicate any deficiency for the capital accounts For those boxes in which you must enter subtractive or negative numbers use a minus sign How much net income was earned from the venture? 480 b. How should the money be distributed? Lincoln Mapes Total Bray 450 Capital balances and cash distribution 450 X 1,230 Assume that the partnership has only $660 instead of $1.230. Do any of the three partners have a capital deficiency? Yes If so, how much Bray Lincoln Mapes Total Capital balances Feed