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Your answer is partially correct. Try again. Following is the balance sheet of the BDO Partnership Cash Accounts Receivable Inventory Equipment $10,000 41,000 32,000 56,000
Your answer is partially correct. Try again. Following is the balance sheet of the BDO Partnership Cash Accounts Receivable Inventory Equipment $10,000 41,000 32,000 56,000 $139,000 $12,000 Brink, Capta 41,000 Davis, Capital34,000 52,000 $139,000 Liabilities Olsen, Capital The partners share income 40:40:20, respectively. Assume that 70% of the receivables are collected and that inventory with a book value of $14,000 is sold for $9,000. All cash available at this time is to be distributed. Determine the proper distribution of cash, using the safe payment approach. (Round answers to O decimal places, e.g. 5,125. Enter credit balance of an account and credit posting to an account with negative sign preceding the number, e.g.-45 or parentheses, e.g. (45).) Noncash Assets Brink 40% Capital Balances Davis 40% Olsen 20% Cash Liabilities Account Balances 10,000 $129,000) 12,000 $41,000) $(34,000 $52,000 le of Inventory, Collect ts Receivable 28,700 2,700 5,600 5,600 2,800 38,700 86,3 12,000 (35,400) 28,400) 49,200) 2,000 ent to Creditor 12,000) 26,700 6,300 (35,4500) (28,400) ent to Partne 26,700 (3,200) 29,900 86300 (28,400) (19,300)
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