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Prepare a schedule of cash payments

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Sedgwick Company at December 31 has cash $22,336, noncash assets $102,800, liabilities $54,692, and the following capital balances: Floyd $46,990 and DeWitt $23,454. The firm is liquidated, and $111,900 in cash is received for the noncash assets. Floyd and DeWitt income ratios are 70% and 30%, respectively.

Prepare a schedule of cash payments. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).)

Reference no: EM131768647

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