Business, 12.03.2020 21:31 glowbaby123
Appalachian Company at December 31 has cash $40,000, noncash assets $200,000, liabilities $110,000, and the following capital balances:
Hoffman $90,000 and Mena $40,000. The firm is liquidated, and $220,000 in cash is received for the noncash assets. Hoffman and Mena's income ratios are 60% and 40%, respectively.
Prepare a schedule of cash payments.
Answers: 2
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Appalachian Company at December 31 has cash $40,000, noncash assets $200,000, liabilities $110,000,...
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