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Determine how much cash dalek will receive from the partners

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Problem 1: The Freema Company at December 31 has cash $20,000, noncash assets $100,000, liabilities $55,000, and the following capital balances: Dalek $45,000 and Briggs $20,000. The firm is liquidated, and $110,000 in cash is received for the noncash assets. Dalek and Briggs income ratios are 60% and 40%, respectively.

Question 1: Determine how much cash Dalek will receive from the partnership liquidation.

Reference no: EM132466977

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