Solution-Find how much cash did b receive in first cash

Find how much cash did b receive in first cash distribution

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Reference no: EM132787414

ABC Co. is undergoing liquidation. Information before the start of the liquidation process is as follows:

Cash 10,000 Accounts payable 80,000

Accounts receivable 80,000 Payable to B 20,000

Receivable from A 10,000 A, Capital (50%) 250,000

Inventory 180,000 B, Capital (30%) 150,000

Equipment, net 320,000 C, Capital (20%) 100,000

Total 600,000 Total Liab. & Equity 600,000

Problem 1: The total cash distributed to the partners after the first and second sales of noncash assets were $12,000 and $30,000, respectively. How much cash did B receive in the first cash distribution?

Reference no: EM132787414

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Find how much cash did b receive in first cash distribution

Reference no: EM132787414

Reference no: EM132787414

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