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Find how much cash quitty should receive

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Problem 1: Peddy, Quitty, Romy and Seth 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, 2015 are: Peddy, $10,000; Quitty, $250,000; Romy, $250,000; Seth, $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 Quitty should receive?

Reference no: EM132813969

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