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In liquidation, balances prior to the distribution of cash to the partners are: Cash $205300; Jason, Capital $112300; Stengel, Capital $104900, and King, Capital $11900 deficiency. The income ratio is 6:2:2, respectively. How much cash should be distributed to Stengel if King does not pay his deficiency? ○ $98950 ○ $104900 ○ $101925 ○ $95975

In liquidation, balances prior to the distribution of cash to the partners are: Cash $205300; Jason, Capital $112300; Stengel, Capital $104900, and King, Capital $11900 deficiency. The income ratio is 6:2:2, respectively. How much cash should be distributed to Stengel if King does not pay his deficiency? ○ $98950 ○ $104900 ○ $101925 ○ $95975

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In liquidation, balances prior to the distribution of cash to the partners are: Cash $205300; Jason, Capital $112300; Stengel, Capital $104900, and King, Capital $11900 deficiency. The income ratio is 6:2:2, respectively. How much cash should be distributed to Stengel if King does not pay his deficiency? ○ $98950 ○ $104900 ○ $101925 ○ $95975
Transcribed Image Text:In liquidation, balances prior to the distribution of cash to the partners are: Cash $205300; Jason, Capital $112300; Stengel, Capital $104900, and King, Capital $11900 deficiency. The income ratio is 6:2:2, respectively. How much cash should be distributed to Stengel if King does not pay his deficiency? ○ $98950 ○ $104900 ○ $101925 ○ $95975
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