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Determine how much cash should quito receive

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Question 1: Pedro, Quito, Romeo and Sixto are partners, sharing earnings in the ratio of 3/21, 4/21, 6/21 and 8/21. The balances of their capital accounts on December 31, 2010 are: Pedro, 10,000; Quito, 250,000; Romeo, 250,000; Sixto, 90,000. The partners decide to liquidate, and they accordingly convert the noncash assets into cash. After paying the liabilities amounting to 60,000, they have 222,000 to divide. How much cash should Quito receive?

Reference no: EM132775597

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