FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Prior to liquidating their
partnership, Craig and Jenny had
capital accounts of $62,080 and
$130,990, respectively. The
partnership assets were sold for
$233,050. The partnership had
$24,730 of liabilities. Craig and
Jenny share income and losses
equally.
Determine the amount received
by Jenny as a final distribution
from liquidation of the
partnership.
$fill in the blank 1
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Transcribed Image Text:Prior to liquidating their partnership, Craig and Jenny had capital accounts of $62,080 and $130,990, respectively. The partnership assets were sold for $233,050. The partnership had $24,730 of liabilities. Craig and Jenny share income and losses equally. Determine the amount received by Jenny as a final distribution from liquidation of the partnership. $fill in the blank 1
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