Capital O, X, Y, and Z are $10,000, $15,000, $16,000 and $18,000, respectively. O has a loan balance of $1,000. Profit is divided in a ratio of 5:2;1;2. Assets are sold, liabilities are paid, and cash remains of $6,000. How should this remaining cash be distributed?
Capital O, X, Y, and Z are $10,000, $15,000, $16,000 and $18,000, respectively. O has a loan balance of $1,000. Profit is divided in a ratio of 5:2;1;2. Assets are sold, liabilities are paid, and cash remains of $6,000. How should this remaining cash be distributed?
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 6DQ
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