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How much cash will monet receive in the final settlement

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Problem - A local partnership has assets of cash of $130,000 and land recorded at $700,000. All liabilities have been paid and the partners are all personally insolvent. The pa rtners' capital accounts are as follows: Renoir, $500,000; Degas, $300,000; and Monet, $30,000. The partners share profits and losses in a ratio of 5:3:2. If the land is sold for $450,000, how much cash will Monet receive in the final settlement?

Reference no: EM132960612

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