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Daynen Company at December 31 has cash £20000 non-cash assets £100000 liabilities £55000 and the following capital balances Day £45000 and Nen £20000 The firm is liquidated

Daynen Company at December 31 has cash £20,000, non-cash assets £100,000, liabilities £55,000, and the following capital balances: Day £45,000 and Nen £20,000. The firm is liquidated, and £120,000 in cash is received for the non-cash assets. Day and Nen income ratios are 55% and 45%, respectively. Instructions Prepare a cash distribution schedule.

May 17 2020 View more View Less

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