Solved: Daynen company at december 31 has cash 19500 noncash assets, Accounting Basics

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Daynen company at december 31 has cash 19500 noncash assets

Question - Daynen Company at December 31 has cash $19,500, noncash assets $108,000, liabilities $62,500, and the following capital balances: Day $43,000 and Nen $22,000. The firm is liquidated, and $132,000 in cash is received for the noncash assets. Day and Nen income ratios are 60% and 40%, respectively.

Prepare a cash distribution schedule.

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Accounting Basics: Daynen company at december 31 has cash 19500 noncash assets

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Accounting Basics: Daynen company at december 31 has cash 19500 noncash assets

Reference No:- TGS02906777

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