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The following are partners’ loan and capital balances and profit and loss ratios on thedate that liquidation begins P & L ratioP loan

The following are partners’ loan and capital balances and profit and loss ratios on thedate that liquidation begins:P & L ratioP loan $ 43,200Q loan 72,000P capital 144,000 .40Q capital 154,800 .35R capital 129,600 .15S capital 72,000 .10The liquidation has commenced, and distributions of cash have been made to thepartners. Partner S has received a total of $14,600. The liquidator now has $60,000 availablefor distribution.Required:Calculate how the $60,000 should be distributed.

Jul 14 2020 View more View Less

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