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The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's liquidation: cash, $20,60
Posted: Sun Jun 05, 2022 8:03 pm
by answerhappygod
- The Balance Sheet Of Morgan And Rockwell Was As Follows Immediately Prior To The Partnership S Liquidation Cash 20 60 1 (19.67 KiB) Viewed 44 times
The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's liquidation: cash, $20,600; other assets, $142,200; liabilities, $32,800; Morgan, capital, $56,500; Rockwell, capital, $73,500. The other assets were sold for $125,400. Morgan and Rockwell share profits and losses in a 2:1 ratio. As a final cash distribution from the liquidation, Morgan will receive cash totaling Oa. $20,600 Ob. $56,500 Oc. $13,733 d. $45,300