as of january 1,2013 the partnership of canton ,yulls and gar As of January 1, 2

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as of january 1,2013 the partnership of canton ,yulls and gar

As of January 1, 2013, the puartrership of Canton, Yuls, ard Garr had the fol owirg account ba Cash Noncash assets Liabilities Canton, capital (3n%) Yulls, capital (40%) Garr, capital (30%) $ 80,000 205,000 47,000 138,000 119,500 19,500) The patrennp incurred losses in recent years and cccided to liquidata. . I quidation How much cash snai le each partner recc%e at this tme p rs,i rr: to a prcpcood sched a Press Tab n enter the conterut edlitor. or the noitbr, press A.T-FD PC or ALT-FN+80 expe GantonY Garr

Explanation / Answer

Canton(30%) Yulls(40%) Garr(30%) Capital Accounts 138000 119500 (19500) Non Cash Assets (61500) (82000) (61500) Liabilities 14100 18800 14100 Total 90600 56300 (66900) Defficiency of Garr(42.85% : 57.15%)) (28667) (38233) 66900 Cash payable 61933 18067

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