5. A. Montgomery, E. Fields and H. Marin were partners and showled the following account balances as of December 31, 2022: Cash Account Equipment Accumulated Amortization - Equipment Accounts Payable Balance $13,000 $152,000 $89,000 $7,000 Account Notes Payable A Montgomery, Capital E. Fields, Capital H. Marin, Capital Prepare the entry to distribute the remaining cash to the partners. Balance $12,000 $31,000 $14,000 $12,000

5. A. Montgomery, E. Fields and H. Marin were partners and showled the following account balances as of December 31, 2022: Cash Account Equipment Accumulated Amortization - Equipment Accounts Payable Balance $13,000 $152,000 $89,000 $7,000 Account Notes Payable A Montgomery, Capital E. Fields, Capital H. Marin, Capital Prepare the entry to distribute the remaining cash to the partners. Balance $12,000 $31,000 $14,000 $12,000

Name: 5. A. Montgomery, E. Fields and H. Marin were partners and showled th
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Description: 5. A. Montgomery, E. Fields and H. Marin were partners and showled the following account balancesas of December 31, 2022:CashAccountEquipmentAccumulated Amortization -EquipmentAccounts PayableBalance$13,000$152,000$89,000$7,000AccountNotes PayableA

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 10MCQ

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