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Home / Questions / Dailey Company at December 31 has cash $40000 noncash assets $200000 liabilities $110,000...

Dailey Company at December 31 has cash $40000 noncash assets $200000 liabilities $110,000, and the following capital balances Dickinson $90000 and Meierhoff $40000 The firm is liquidated and


Dailey Company at December 31 has cash $40,000, noncash assets $200,000, liabilities $110,000, and the following capital balances: Dickinson $90,000 and Meierhoff $40,000. The firm is liquidated, and $220,000 in cash is received for the noncash assets. Dickinson and Meierhoff income ratios are 60% and 40%, respectively.

 

Instructions
Prepare a cash distribution schedule

Apr 02 2020 View more View Less

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